NEW YORK, April 28, 2015 /PRNewswire/ -- Securities lawyers at Dunnam & Dunnam are investigating allegations for Castlight Health, Inc. shareholders (NYSE:CSLT). Concerned CSLT investors who purchased between March 14, 2014 and April 8, 2015 are encouraged to contact securities attorney Hamilton Lindley by clicking here.
The lawsuit alleges that Castlight failed to disclose in its IPO prospectus that it was experiencing backlog due to implementation delays. Castlight's technology was not adequately scalable to achieve growth in revenues and reduction of costs to reach significant profitability. As a result of the scalability issues, many of its customers were not renewing their contracts. Since its IPO on March 14, 2014, its stock has declined 53% from the IPO price of $16.00 per share to $7.49 on April 21, 2015.
Dunnam & Dunnam has significant experience representing shareholders in securities lawsuits nationwide. CSLT stockholders – or anyone with knowledge about this situation – should contact lawyer Hamilton Lindley at [email protected] with questions, toll free at (844) 702-2990 or visit http://www.dunnamlaw.com/CSLT.
SOURCE Dunnam & Dunnam