NEW YORK, Jan. 31, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Textura Corporation ("Textura" or the "Company") (NYSE: TXTR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Textura and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On Thursday December 26, 2013, a report from Citron Research stated, among other things, that the Company's stock is worth less than $4 per share due escalating expenses by the company which demonstrate a lack of leverage and unsustainable business model. Moreover, Citron concluded that the company refusal to provide disclosure of data supporting retention rates and revenue generated from related party referrals, strongly suggest non-arm's length transactions. On this news, shares of Textura fell $8.20 per share to $29.54, or more than 21.72%, on December 27, 2013.
On January 30, 2014, Textura announced its financial results for fourth quarter and year ended December 31, 2013. The Company's reported earnings fell below analysts' guidance. As a result of this news, Textura's shares fell by $3.43, more than 9%, on unusually heavy trading volume.
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
SOURCE Pomerantz LLP