INVESTOR ALERT: Brower Piven Encourages Shareholders Who Have Losses In Excess Of $100,000 From Investment In Supreme Industries Inc. To Contact Brower Piven Before The Lead Plaintiff Deadline In Class Action Lawsuit
The securities litigation law firm of Brower Piven, A Professional Corporation, 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 Supreme Industries Inc. (NYSE MKT: STS) ("Supreme Industries" or the "Company") securities during the period between July 22, 2016 and October 21, 2016, inclusive (the "Class Period"). Investors who wish to become proactively involved in the litigation have until January 3, 2017 to seek appointment as lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Supreme Industries securities during the Class Period. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the backlog number from 2015's third quarter was a result of the timing of several large orders placed in that quarter and the backlog number from 2016's third quarter would not be close to the backlog number of 2015's third quarter. According to the complaint, following an October 21, 2016 press release, conference call, and report announcing that the lower backlog comparison is due to two large fleet replacement orders and the timing of an annual fleet account order received during the third quarter of last year and that the circumstances surrounding the backlog of the third quarter of 2015 was unique, the value of STS shares declined significantly.