WILMINGTON, Del., July 30, 2015 /PRNewswire/ --
- Do you, or did you, own shares of ServiceSource International, Inc. (NASDAQ GS: SREV)?
- Did you purchase your shares between January 22, 2014 and May 1, 2014, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities that purchased the common stock of ServiceSource International, Inc. ("ServiceSource" or the "Company") (NASDAQ GS: SREV) between January 22, 2014 and May 1, 2014, inclusive (the "Class Period"), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the "Complaint").
If you purchased shares of ServiceSource during the Class Period, or purchased shares prior to the Class Period and still hold ServiceSource, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to firstname.lastname@example.org; or at: http://rigrodskylong.com/investigations/servicesource-international-inc-srev.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. As a result of defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period. The artificially inflated prices allowed the Company's President and Chief Executive Officer, along with other Company insiders, to sell their ServiceSource shares for millions of dollars in proceeds.
According to the Complaint, on May 1, 2014, the Company announced its financial results for the first quarter of 2014. The results indicated that information previously disclosed to the public in a January 22, 2014 press release were fraudulent.
On this news, shares in ServiceSource plummeted almost 33%, closing at $4.20 per share on May 2, 2014, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than September 8, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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SOURCE Rigrodsky & Long, P.A.