Law
Offices of Howard G. Smith announces that a class action lawsuit has
been filed on behalf of investors who purchased SuperCom Ltd. securities
("SuperCom" or the "Company") (Nasdaq: SPCB) between June
1, 2015 and November 27, 2015, inclusive (the “Class Period”).
Injured investors are encouraged to contact the Law Offices of Howard G.
Smith to discuss their legal rights in this class action.
On November 30, 2015, SuperCom revealed preliminary third quarter 2015
revenues of $5.5-$6.1 million. These results represent figures much
lower than both SuperCom’s own revenue goals, and analysts’ expectations
of $13.38 million. Additionally, SuperCom diminished its fiscal 2015
revenue and earnings guidance. Upon this news, shares of SuperCom
dropped from a close of $7.70 per share on November 27, 2015, to a close
of $4.60 per share on November 30, 2015.
The filed complaint alleges that the defendants made false and/or
misleading statements and/or failed to disclose that: (a) SuperCom was
having difficulty closing certain sales with certain governments and the
revenue associated with those deals would be substantially delayed; (b)
SuperCom’s “pipeline” was neither strong nor “broadening” contrary to
the Company’s representations; and (c) as a result of the foregoing, the
Company was not on track to achieve the financial results Defendants had
led the market to expect during the Class Period.
If you purchased SuperCom securities during the Class Period you may
move the Court no later than February 8, 2016 to ask the Court to
appoint you as lead plaintiff if you meet certain legal requirements. To
be a member of the Class you need not take any action at this time; you
may retain counsel of your choice or take no action and remain an absent
member of the Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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