SAN DIEGO, Jan. 20, 2016 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending in Massachusetts on behalf of certain purchasers of shares of Endurance International Group Hldgs Inc (NASDAQ:EIGI) over alleged Securities Laws Violations by Endurance International Group Holdings.
Investors who purchased shares of Endurance International Group Hldgs Inc (NASDAQ:EIGI) prior to November 2014 and continue to hold any of those NASDAQ:EIGI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On April 28, 2015, Gotham City Research, LLC issued a report titled “Endurance International Group: A Web of Deceit”. In the report, Gotham City Research, LLC stated that 40%-100%+ of Endurance International Group Hldgs’ reported profits are suspect, that Endurance International Group Holdings‘ organic growth was overstated and that Endurance International Group Hldgs’ revenues per Indian filings are 30%-67% lower than reported in the United States.
On May 4, 2015, a lawsuit was filed in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Endurance International Group Holdings. The plaintiff claimed that defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose to investors that Endurance International Group Holdings Inc overstated its 2014 Average Revenue per Subscriber and organic growth rate, that Endurance International Group Holdings Inc engaged in irregular accounting practices related to its international business, and that, as a result of the foregoing, Endurance International Group Holdings’ statements about its business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. On December 8, 2015, the plaintiff filed an amended complaint.
On December 16, 2015, Endurance International Group Hldgs Inc disclosed that it received a subpoena dated December 10, 2015 from the Boston Regional Office of the Securities and Exchange Commission, requiring the production of certain documents, including, among other things, documents related to Endurance’s financial reporting, including operating and non-GAAP metrics, refund, sales and marketing practices and transactions with related parties.
Those who purchased Endurance International Group Hldgs Inc (NASDAQ:EIGI) prior to November 2014 and continue to hold any of those NASDAQ:EIGI shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.