NEW YORK, Nov. 6, 2015 /PRNewswire/ -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities Straight Path Communications Inc. ("Straight Path Communications" or the "Company") (NYSE- MKT: STRP-News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at firstname.lastname@example.org or 212-697-6484.
The investigation concerns whether Straight Path Communications and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On October 29, 2015, Kerrisdale Capital Management issued a report on Straight Path Communications asserting that the company is worth at least "90% less than its current market cap" due to, among other issues: (1) shortcomings in Straight Path Communications' spectrum; (2) low demand in light of high supply, and (3) difficulties of practical mmWave deployments. On this news, the company's stock fell $18.23 per share, or over 38%, to close at $29.35 on October 29, 2015. On November 5, 2015, Sinclair Upton Research issued a report on Straight Path Communications asserting, among other things, that the vast majority of the company's 39 GHz spectrum licenses' Required Notification of Construction/Coverage Applications were obtained from the Federal Communications Commission (FCC) by fraudulent misrepresentation, because the company's systems were never built on the sites as specified in the relevant filings.
On this news, the company's stock fell $13.70, or over 51%, to close at $12.81 on November 5, 2015, further damaging investors.
If you are aware of any facts relating to this investigation, or purchased shares of Straight Path Communications, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
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