NEW YORK, March 9, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in ChannelAdvisor Corporation ("ChannelAdvisor" or the "Company") (NYSE: ECOM) of the March 24, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against ChannelAdvisor and certain officers of the Company.
A complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased ChannelAdvisor common stock between November 6, 2014 and January 12, 2015 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its statements concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, ChannelAdvisor misrepresented and/or failed to disclose that: (i) the Company's shift in customer base from smaller clients to larger ones created a risk to ChannelAdvisors' financial performance; and (ii) larger clients had been given a discount in the percentage of gross merchandise value, which resulted in lower revenue.
On January 12, 2015, the Company announced lower revenue guidance for the fourth quarter of 2014.
Following this news, the price of ChannelAdvisors' stock declined by $11.32 per share, or over 53%, to close on January 13 at $9.83 per share.
Request more information now by clicking here: www.faruqilaw.com/ECOM. There is no cost or obligation to you.
Take Action
If you invested in ChannelAdvisor common stock or options between November 6, 2014 and January 12, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/ECOM. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding ChannelAdvisor's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
FARUQI & FARUQI, LLP
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Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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