SAN DIEGO and NEW YORK, Nov. 20, 2013 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP is investigating potential violations of federal securities laws on behalf of investors of Tremor Video, Inc. (NYSE: TRMR). Tremor Video provides technology-driven video advertising solutions for advertisers and agencies, and publisher partners in the United States and internationally.
Tremor Video Shares Fall Sharply on Disappointing Results and Lowered Guidance
Shares of Tremor fell nearly $4.54, or nearly 50%, to close at $4.72 on November 8, 2013, following the release of the company's third quarter financial statement reporting a substantially larger loss than analysts expected. Specifically, Tremor reported a loss of $18.1 million, or $0.37 per share, for the quarter compared to a loss of $1.7 million, or $0.22 per share, for the same quarter 2012. Analysts had anticipated a loss of $0.35 per share. Further, Tremor lowered its fourth-quarter and full-year revenue guidance. For the fourth quarter, Tremor issued revenue guidance in the range of $29.5 million and $30.5 million, significantly below analysts' projections of $38.56 million for the quarter. The company lowered its full-year guidance to a range of $125 million to $126 million, from a previous estimate of $133.7 million and $135.7 million. On this news, multiple analysts downgraded Tremor's stock.
Tremor Video Shareholders Are Encouraged to Contact Shareholder Rights Law Firm Robbins Arroyo
If you invested in Tremor Video and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the information form on the firm's shareholder rights blog: http://www.robbinsarroyo.com/shareholders-rights-blog/tremor-video-inc/
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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SOURCE Robbins Arroyo LLP