NEW ORLEANS--(EON: Enhanced Online News)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 3, 2017 to file lead plaintiff applications in a securities class action lawsuit against Supreme Industries Inc. (NYSE MKT: STS), if they purchased the Company’s securities between July 22, 2016 and October 21, 2016, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
“the backlog is going to settle more towards the way it looked Q3 last year.”
What You May Do
If you purchased securities of Supreme and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 3, 2017.
About the Lawsuit
Supreme and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 22, 2016, during a conference call regarding the 2016 second quarter results, Supreme’s Chief Financial Officer discussed earning projections for the 2016 third quarter and stated that “the backlog is going to settle more towards the way it looked Q3 last year.”
However, on October 21, 2016, when Supreme reported its 2016 third quarter results, Supreme’s order backlog was $58.1 million, much lower than the $74.4 million in order backlog at the end of last year’s same quarter.
On this news, the price of Supreme Industries’ shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.