NEW YORK, Oct. 28, 2016 /PRNewswire/ -- Levi & Korsinsky, LLP announces that it has commenced an investigation of Supreme Industries Inc. ("Supreme Industries" or the "Company") (NYSE MKT: STS) concerning possible violations of federal securities laws by the Company and/or certain of its officers and directors.
During an October 23, 2015 earnings call, Supreme Industries indicated that "[a]s a result of the strong order activity, our order backlog at the end of the third quarter was $74.4 million, which is 47% higher as compared to the third quarter of 2014." Then on July 22, 2016, during the second quarter earning call, STS stated that third quarter 2016 backlog would "settle more towards" the third quarter 2015 results. However, on October 21, 2016, Supreme Industries announced that its third quarter backlog of truck sales declined 22% from the third quarter 2015, and that the 2015 backlog was the result of "two large fleet replacement orders and the timing of an annual fleet account order received during the third quarter of last year." Shares of Supreme Industries have fallen from a recent high of $18.91 on October 12, 2016, to a recent close of $11.67 per share on October 27, 2016. To obtain additional information about the investigation, go to: