Harwood Feffer LLP Encourages Investors Who Have Losses In Excess Of $100,000 From Investment In Supreme Industries, Inc. (STS) To Inquire About The Lead Plaintiff Position In Securities Fraud Class Action Lawsuit Before The January 3, 2017 Deadline
NEW YORK, Nov. 14, 2016 /PRNewswire/ -- Harwood Feffer LLP ( www.hfesq.com) announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of the common stock of Supreme Industries, Inc. ("Supreme" or the "Company") (NYSE MKT: STS) between July 22, 2016 and October 21, 2016, inclusive (the "Class Period").
No class has yet been certified in the above action. Class members will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than January 3, 2017 and be selected by the court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You may contact the Harwood Feffer LLP website ( http://www.hfesq.com) or Peter W. Overs, Jr., directly, at firstname.lastname@example.org to ask any questions you may have concerning your rights as a shareholder. The Complaint alleges violations of the federal securities laws against Supreme and its officers and directors for making materially false and misleading statements to investors. According to the Complaint, even though defendants knew that the backlog figure for the third quarter 2015 was an anomaly due to the timing of several large orders, the Company's Chief Financial Officer misleadingly stated in a conference call in the second quarter of 2016 that "the backlog [for the third quarter 2016] is going to settle more towards the way it looked Q3 last year." When the truth became known to the market, the Complaint alleges that investors suffered damages.