Why Textura Corporation (TXTR) Is Down Today

NEW YORK (TheStreet) -- Textura Corporation  (TXTR) plunged 11% to $28.40 a share after the law firm of Kahn Swick & Foti, LLC announced that it has started an investigation into the company.

The former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., made the announcement. On Dec. 26, 2013, Citron Research released a report claiming select Textura directors and officers committed fraud, collusion and deception during the company's initial public offering and when it filed documents with the Securities and Exchange Commission. The report listed numerous ways that Textura allegedly misled investors and claimed that the company would have been insolvent if not for the IPO.

KSF's investigation will center on whether or not Textura or its directors and officers violated any federal or state securities laws.

TXTR Chart

TXTR data by YCharts

More from Stocks

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

Dow Gets Swept Into Nasty Reversal Even as Nasdaq Posts New Record

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

REPLAY: Jim Cramer on Fed Rate Hikes, Oil Prices and Starbucks Worries

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists

This Should Be Your Retirement Savings Plan When the Stock Market Crashes

This Should Be Your Retirement Savings Plan When the Stock Market Crashes