Securities Class Action Filed Against ChannelAdvisor Corporation
Violations of federal securities laws as a result of a series of materially false statements. The Complaint alleges that ChannelAdvisor and certain of its officers and directors issued materially false and misleading statements about the Company’s true financial condition and prospects. On January 12, 2015, ChannelAdvisor announced disappointing preliminary revenue results for the quarter ended December 31, 2014, citing an unusual shift of gross merchandise volume to larger customers during the holiday season, resulting in lower variable subscription revenue. According to the Complaint, this news caused shares of ChannelAdvisor to fall approximately $11.20 per share, or by more than 53%, in morning trading on January 13, 2015. Filed in S.D.N.Y.
Lead Plaintiff Deadline: The deadline to file for lead plaintiff in this action is 3/24/2015.
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