Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 8, 2016 to file lead plaintiff applications in a securities class action lawsuit against SuperCom Ltd. (NasdaqCM:SPCB), if they purchased the Company’s securities in connection with the June 23, 2015 Secondary Offering, or during the relevant period of March 26, 2015 to November 27, 2015. This action is pending in the United States District Court for the Southern District of New York. Currently, KSF is investigating claims for shareholders who purchased SuperCom shares between March 26, 2015 and June 1, 2015.
What You May Do
If you purchased shares of SuperCom and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 8, 2016.
About the Lawsuit
SuperCom and certain of its executives are charged with failing to disclose material information, violating federal securities laws.
On November 30, 2015, SuperCom announced preliminary third quarter fiscal 2015 revenue of $5.5-$6.1 million, significantly lower than its revenue target and analysts’ expectation of $13.38 million. SuperCom also reduced its fiscal 2015 revenue and earnings guidance.
On this news, the price of SuperCom’s stock plummeted by 40%.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.