BALA CYNWYD, Pa., Jan. 8, 2016 /PRNewswire/ -- Law Office of Brodsky & Smith, LLC announces an investigation of Straight Path Communications, Inc. ("Straight Path" or the "Company") (NYSE MKT-STRP- News) for potential violations of federal securities laws and breaches of the Straight Path Board's fiduciary duties.
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The investigation concerns a securities class action lawsuit commenced in the United States District Court for the District of New Jersey. The complaint alleges: (1) that the commercialization prospect for Straight Path's spectrum assets were less than touted; (2) that, Straight Path's spectrum licenses were improperly obtained; and (3) as a result, Straight Path's public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. Consequently, the complaint alleges that when this information was known to the public shares of Straight Path fell 73.1%, to close at $12.79 on November 6, 2015.
If you purchased shares of Straight Path common stock between October 29, 2013 and November 5, 2015, and wish to discuss the investigation, or if you have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC before January 12 , 2016, who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, by visiting http://brodsky-smith.com/1017-strp-straight-path-communications.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders.
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