NEW YORK, Aug. 6, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Active Network, Inc. (NASDAQ: ACTV) ("Active Network" or the "Company") who purchased Active Network common stock between May 25, 2011 and November 1, 2012 (the "Class Period"). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Active Network and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
The investigation concerns statements made to investors in connection with the Company's initial public offering on May 25, 2011. Specifically, the investigation focuses on statements issued by Active Network regarding customer conversions to its online registration systems. On November 1, 2012, Active Network announced lower guidance for its 2013 fiscal year.
On this news announcement, shares of Active Network fell $3.87 per share or 41.67% to close at $5.42 on intraday trading November 2, 2012.The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com. CONTACT: Robert S. Willoughby Pomerantz Grossman Hufford Dahlstrom & Gross LLP email@example.com