Case Page

 

Case Status:    ONGOING    
On or around 11/03/2018 (Ongoing date of last review)

Filing Date: April 04, 2018

According to the law firm press release, Synacor operates as a technology development, multiplatform services, and revenue partner for video, Internet, and communications providers, as well as device manufacturers, governments, and enterprises.

On May 4, 2016, Synacor announced that it had secured a three-year contract to host web and mobile services for AT&T Inc. (“AT&T” and the “AT&T Contract,” respectively).

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Synacor was unlikely to receive significant revenues from the AT&T Contract until 2018; (ii) as such, the Company’s revenue forecasts issued during the Class Period were materially false and misleading; and (iii) as a result of the foregoing, Synacor shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.

On July 6, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on July 27. Lead Plaintiff re-filed the amended Complaint on August 2. On October 17, the Court issued an Order substituting Lead Plaintiff's chosen Counsel as Lead Counsel. On November 2, Lead Plaintiff filed a second amended Complaint.

COMPANY INFORMATION:

Sector: Services
Industry: Business Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SYNC
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 18-CV-02979
JUDGE: Hon. Lorna G. Schofield
DATE FILED: 04/04/2018
CLASS PERIOD START: 05/04/2016
CLASS PERIOD END: 03/15/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
    60 East 42nd Street - Suite 4600, Bronstein, Gewirtz & Grossman, LLC (New York), NY 10165
    212.697.6484 212.697.7296 · info@bgandg.com
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 18-CV-02979
JUDGE: Hon. Lorna G. Schofield
DATE FILED: 11/02/2018
CLASS PERIOD START: 05/05/2016
CLASS PERIOD END: 03/15/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bragar Eagel & Squire PC
    885 Third Avenue Suite 3040 , Bragar Eagel & Squire PC , NY 10022
    212-308-5858 212-214-0506 ·
No Document Title Filing Date
—Related District Court Filings Data is not available