, Jan. 16, 2014 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of
on behalf of investors who purchased Tremor Video, Inc. ("Tremor Video" or the "Company") (NYSE: TRMR) securities pursuant and/or traceable to the Company's
June 27, 2013
Initial Public Offering (the "IPO").
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The complaint alleges that the Company issued materially false and misleading statements and/or failed to disclose significant facts in its Registration Statement. In particular, it is alleged that the Company failed to disclose: (a) that the online advertising market had materially shifted from desktop browsing to mobile browsing, where the Company was at a significant disadvantage to its competitors; and (b) that, as a result of the Company's inferior mobile browsing capabilities, the Company was losing sales to competitors.
The Company raised approximately
in gross proceeds from the IPO. During the IPO shares of Tremor Video stock were sold for
a share and since the IPO, the value of the Company's stock has declined by approximately 60%.
If you suffered a loss in Tremor Video you have until
January 21, 2014
to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact
Joseph E. Levi, Esq.
either via email at
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in
The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP