An investor in shares of Marchex, Inc. (NASDAQ:MCHX), filed a lawsuit in New York over alleged violations of Federal Securities Laws by Marchex, Inc..
Investors who purchased shares of Marchex, Inc. (NASDAQ:MCHX) have certain options and for certain investors are short and strict deadlines running. Deadline: January 19, 2016. NASDAQ:MCHX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that between March 19, 2014 and September 18, 2014 defendants issued materially false and misleading statements to investors and/or failed to disclose thatAllstate sought to switch its business with Marchex to a fixed- fee basis from payments made for each call, that consequently, Marchex’s revenue would be negatively impacted, and that as a result of the foregoing, defendants’ public statements about Marchex’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times.
On February 19, 2014, Marchex, Inc. announced its fourth quarter and full year 2013 results. Marchex, Inc. reported that its annual Total Revenue rose from $132.79 million in 2012 to $152.55 million in 2013 and that its Net Loss of $35.20 million in 2012 turned into a Net Income of $1.82 million in 2013.
Shares of Marchex, Inc. (NASDAQ:MCHX) grew from $3.87 per share on April 2013 to as high as $12.47 per share on March 21, 2014.
On March 27, 2014, Marchex, Inc. held a Secondary Offering of its stock, offering 5.714 million shares at $10.50 per share.
On September 18, 2014, Marchex, Inc. (NASDAQ:MCHX) announced it is updating its outlook for the remainder of 2014. Marchex, Inc. said that as a result of revised commitments from Allstate n the fourth quarter, Marchex is lowering its 2014 call-driven revenue outlook. Marchex, Inc. said that Allstate has indicated its desire to move to a fixed fee model going forward and that under this proposed model, Marchex’s economic upside would have been limited, while financial exposure to Marchex would have remained and that Marchex does not believe it is in its best long-term interest to work under such an arrangement.
Shares of Marchex, Inc. (NASDAQ:MCHX) declined to as low as $3.55 per share in November 2014.
On February 25, 2015, Marchex, Inc. reported its fourth quarter 2014 and full year 2014 results. Marchex, Inc. reported that its annual Total Revenue rose from $132.79 million in 2012 to $182.64 million in 2014 while its Net Income of $1.82 million in 2013 turned into a Net loss of $19.09 million in 2014.
Those who purchased shares of Marchex, Inc. (NASDAQ:MCHX) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
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