NEW YORK, Nov. 08, 2016 (GLOBE NEWSWIRE) -- Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national investor rights law firm, reminds investors that January 3, 2017 is the last day to file lead plaintiff papers in the securities lawsuit against Supreme Industries Inc. (“Supreme” or the “Company”) (NYSE:STS). The class action is on behalf of a class consisting of all persons who purchased or otherwise acquired Supreme shares between July 22, 2016 and October 21, 2016 inclusive (the “Class Period”). Supreme investors are encouraged to go to: http://www.scott-scott.com/cases/new/securities-fraud-litigation-3025-supreme-industries-inc-sts.html.
Supreme manufactures and sells truck bodies and specialty vehicles in the United States. Supreme’s common stock is traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “STS.”
The complaint alleges that Supreme made false and/or misleading statements and/or failed to disclose that: the backlog figure from the third quarter of 2015 was a result of the timing of many large orders placed in that quarter; that the backlog figure for the third quarter of 2016 would not be close to the backlog figure of the third quarter of 2015; and that as a result of the above, the Company’s public statements about its business, operations and prospects were materially false and misleading at all relevant times.
On October 21, 2016, Supreme announced its third quarter backlog of truck sales declined 22% from the third quarter 2015. On October 22, 2016, Cliffside Research published a report discussing the unexpected third quarter backlog decline and heavy insider selling through 2016.
What You Can Do
If you purchased shares of Supreme, you may have legal claims against the Company. If you want to discuss filing lead plaintiff papers, or have questions about your legal rights, please contact attorney Joseph Halloran at (646) 582-0121, or at jhalloran@scott-scott.com.
About Scott + Scott, Attorneys at Law, LLP
Scott+Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm has offices in New York, London, Connecticut, California, and Ohio. Please visit www.scott-scott.com for more information about the firm.