NEW YORK and SAN DIEGO, June 19, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a class action lawsuit has been filed in the United States District Court for the Northern District of California against QuinStreet, Inc. (“QuinStreet” or the“Company”) (NASDAQ: QNST ) on behalf of investors that acquired QuinStreet securities during the period from February 10, 2016 through April 10, 2018 (the “Class Period”), inclusive.
Investors who have incurred losses in shares of QuinStreet, Inc. a re urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com .
If you have incurred losses in the shares of QuinStreet, Inc and would like to assist with the litigation process as a lead plaintiff, you may, no later than June 26, 2018 , request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in QuinStreet, Inc.
The filed complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that
- QuinStreet recklessly disregarded the occurrence of click-through fraud;
- QuinStreet-owned websites experienced phony, low-quality traffic for its clients;
- the Company’s practices were not geared toward providing its clients with valuable customers or high-quality leads or clicks;
- the Company's fiscal 2018 financial guidance was overstated; and (v) as a result of the foregoing, QuinStreet’s public statements were materially false and misleading at all relevant times.
On April 11, 2018, Kerrisdale Capital published a report entitled “ QuinStreet, Inc. (QNST) Leading Nowhere” which suggested that QuinStreet was generating fake web traffic and poor-quality clicks for its customers.
On this news, shares of QuinStreet fell from $12.32 to close at $10.14 per share on April 11, 2018, a decline of 18% on the day.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com .
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Contact:
Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com , kcooper@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774
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