NEW YORK, Jan. 27, 2017 /PRNewswire/ -- Levi & Korsinsky announces it has commenced an investigation of SITO Mobile, Ltd. (NASDAQ: SITO) ("SITO") concerning possible violations of federal securities laws by the Company and/or certain of its officers and directors.
On January 3, 2017, announced SITO announced disappointing quarterly revenue results for its preliminary media placement for the quarter ending December 31, 2016. SITO stated its quarterly results were "negatively affected this year by restrained advertising spending during a period of heightened and elongated media focus on this year's U.S. election." The Company's CEO, Jerry Hug, said "We clearly underestimated the effects of this year's election on our clients' campaign spending." These disappointing results came aver repeatedly positive statements were made regarding the Company's outlook. In the third quarter conference call, for example, Hug told an analyst there would not be a meaningful drop off as a result of the election. Following this news, shares of SITO fell 32 percent on January 3, 2017. To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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