Kahn Swick & Foti, LLC And Former Louisiana Attorney General Notify DG FastChannel, Inc. Shareholders With Large Financial Interests Of Securities Class Action – DGIT
Kahn Swick & Foti, LLC ("KSF") ( www.ksfcounsel.com), a nationally recognized law firm with offices in New York and Louisiana, and KSF partner Charles C. Foti, Jr., former Attorney General of Louisiana, announce that a securities class action was filed in the United States District Court for the Southern District of New York on behalf of purchasers of DG FastChannel, Inc. ("DG FastChannel") (Nasdaq: DGIT) common stock during the period February 16, 2010 and August 29, 2010, inclusive, including investors who purchased DG FastChannel common stock in the Company's April 8, 2010 public offering of common stock (the "Class Period").
If you are a DG FastChannel shareholder who has suffered losses on your investment during this period and would like to receive a copy of this complaint and discuss your rights as class members and/or apply for lead plaintiff, you may, without obligation or cost to you, prior to November 9, 2010, e-mail or call Managing Partner, Lewis Kahn ( firstname.lastname@example.org), toll free at 1-866-467-1400, ext. 200, or after hours via cell phone 504-301-7900 or, KSF Director of Client Relations, Neil Rothstein, Esq. ( email@example.com), toll free at 877/694-9510, or via cell phone 330/860-4092. You may also visit KSF's website at www.ksfcounsel.com to contact the firm online. A "lead plaintiff" is a representative party that acts on behalf of other class members in directing and controlling the litigation. To learn more about KSF and how becoming a lead plaintiff may benefit you, you may contact Mr. Kahn or Mr. Rothstein.
The Complaint alleges that DG FastChannel failed to disclose a material shift in customer mix for its Pathfire service until August 30, 2010, when, before the opening of trading, DG FastChannel issued a press release that, stated, in part, "[w]hile DG FastChannel's pricing has remained stable and the HD business is strong, we are seeing normal seasonality in our SD volumes following a particularly strong Q2. This seasonality is being exaggerated by the strong rebound in spending from the second to third quarter in 2009, which masked the normal seasonality. In addition, the shift in our customer mix as we transition the Company's Pathfire long-form platform from a wholesale to a full service business model has put short term pressure on revenues, but we expect that our new customer acquisitions will start to contribute in the fourth quarter..."
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