On May 9, 2016, Connecture restated its complete 2016 guidance listing its total revenues to be between $100 million to $110 million. On August 8, 2016, Connecture reduced its complete 2016 guidance of total revenues to be between $85 million to $88 million. Connecture said this lowered restatement was primarily due to: (1) its current year-to-date revenue fell below Connecture's preliminary projections; (2) reduced revenue projections for the remainder of the year for the Company's Private Exchange owed to lessened consumer approving the newer solutions; (3) the effect of Connecture's Enterprise/Commercial customers upgrading to the new platform on 2016 revenue; and (4) Connecture's decision to lessen its focus on the State/Medicaid opportunity. Following this news, Connecture stock dropped during intraday trading on August 9, 2016.
If you purchased Connecture shares or if you are aware of any facts relating to this investigation, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/cnxr. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
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