An investor, who purchased NYSEMKT:STS shares filed a lawsuit over alleged Securities Laws violations by Supreme Industries, Inc. in connection with certain allegedly false and misleading statements made between July 22, 2016 and October 21, 2016.
Investors who purchased shares of Supreme Industries, Inc. (NYSEMKT:STS) have certain options and for certain investors are short and strict deadlines running. Deadline: January 3, 2017. NYSEMKT:STS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Supreme Industries, Inc. (NYSEMKT:STS) common shares between July 22, 2016 and October 21, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 22, 2016 and October 21, 2016 the Defendants made false and/or misleading statements and/or failed to disclose that the backlog figure from the third quarter of 2015 was a result of the timing of several large orders placed in that quarter, that the backlog figure for the third quarter of 2016 would not be close to the backlog figure of the third quarter of 2015, and that as a result, Defendants’ public statements about Supreme Industries’ business, operations and prospects were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damage.
Supreme Industries, Inc. reported that its annual Total Revenue rose from $236.31 million in 2014 to $278.42 million in 2015 and that its Net Income increased from $6.90 million in 2014 to $12.88 million in 2015. Shares of Supreme Industries, Inc. (NYSEMKT:STS) grew from $5.40 per share in February 2016 to as high as $19.73 per share in September 2016.
On October 21, 2016, Supreme Industries, Inc. announced that its third-quarter backlog of truck sales declined 22% from the third quarter 2015. Later that same day, Cliffside Research initiated coverage of the stock of Supreme Industries, Inc. with a “Strong Sell” rating, stating that the “part is over” for both the company and the market of light- to medium-duty trucks that it serves, and asserting that “[h]eavy insider trading in [Supreme Industries] is a canary in the coal mine that should not be ignored.”
Those who purchased NYSEMKT:STS shares 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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