SAN FRANCISCO, Aug. 13, 2019 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in adtech firm QuinStreet, Inc. (NASDAQ: QNST) to the Firm's investigation of possible violations of the Federal securities laws.
If you invested in QuinStreet before August 9, 2019 and suffered losses or have information that may assist the firm's investigation contact Hagens Berman:
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
The investigation centers on whether QuinStreet and its officers misrepresented the sources and sustainability of the Company's revenues.
More specifically, on April 11, 2019, research firm Kerrisdale Capital published a report accusing QuinStreet of, among other things, (1) artificially boosting the Company's "leads" revenue by secretly paying web surfers to click on its advertiser-sponsored links, and (2) failing to adequately disclose the Company's revenue concentration in- and growth from- a single large client, Progressive Insurance.
Then, on August 8, 2019, the Company announced disappointing quarterly earnings, causing the price of QuinStreet shares to drop 27%.
"We're focused on investors' losses, the extent to which management may have misled investors about the source of QuinStreet's revenues and strength of its business model," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding QuinStreet should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email QNST@hbsslaw.com.
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Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP