NEW YORK, Dec. 14, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Tremor Video, Inc. ("Tremor Video" or the "Company") (NYSE: TRMR) of the January 21, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Tremor Video, certain executives and the underwriters of the Company's Initial Public Offering ("IPO").
A complaint has been filed on behalf of all persons who purchased Tremor Video common stock pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Company's June 27, 2013 IPO in the Southern District of New York.
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that the Registration Statement used to conduct Tremor Video's IPO failed to disclose: (i) that the online advertising market had materially shifted towards mobile browsing, rather than desktop browsing, which put the Company at a significant competitive disadvantage; and (ii) that as a result of its lesser mobile browsing capabilities, Tremor Video has lost sales to competitors.
Since the IPO, where the Company's stock was sold to the investing public at $10 per share, shares of Tremor Video have decreased by approximately 60%.
If you invested in Tremor Video stock pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Company's June 27, 2013 IPO and would like to discuss your legal rights, visit www.faruqilaw.com/TRMR. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Tremor Video's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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