TREMOR VIDEO INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Tremor Video, Inc. Following Disclosure Of Third Quarter Losses And Analysts Downgrades
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq. a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”) announces that KSF has commenced an investigation into Tremor Video, Inc. (NYSE: TRMR).
On November 7, 2013, Tremor Video announced its Third Quarter 2013 financial results, reporting that its loss widened to $18.1 million, or 37 cents per share, which translated to a net loss of $0.05 per share—a much wider loss than the net loss of $0.02 per share that Wall Street analysts had expected. The Company also lowered its full-year revenue forecast to a range of $125 million to $126 million from between $133.7 million and $135.7 million. Analysts expect $135 million.
On this news, Tremor Video was downgraded by multiple analysts, and its shares fell drastically, by over 49%.
KSF’s investigation is focusing on whether Tremor Video and/or its officers and directors violated state or federal securities laws.If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis Kahn ( email@example.com) or KSF Partner Melinda Nicholson ( firstname.lastname@example.org) toll free at 1-877-515-1850. 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 class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders. To learn more about KSF, you may visit www.ksfcounsel.com.
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