NEW YORK, April 19, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Endurance International Group Holdings, Inc. ("Endurance" or the "Company") (NASDAQ: EIGI). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Endurance and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 28, 2015, a report published by Gotham City Research LLC asserted that, 40%-100% of EIGI's reported profits are suspect, and 2014 Average Revenue per Subscriber (ARPS) actually declined, in contrast to prior representations made by the Company and Directi, an India based Internet domain name registrar company acquired by Endurance in 2014, Directi's revenues per the Indian filings are 30-67% lower than reported in EIGI's 10K.
On this news, shares of Endurance fell $2.24 per share, to close at 19.70, or more than 10.21%, on April 28, 2015.
On December 17, 2015, the Company announced that it had received a subpoena dated December 10, 2015 from the Boston Regional Office of the Securities and Exchange Commission (the "SEC") requiring the production of certain documents, including, among other things, documents related to Endurance's financial reporting, including operating and non-GAAP metrics, refund, sales and marketing practices and transactions with related parties.
On this news, the Company shares fell $1.80, or 13.84%, to close at $11.21 on December 17, 2015.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
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SOURCE Pomerantz LLP