NEW YORK--(BUSINESS WIRE)--
The Rosen Law Firm, a global investor rights firm, announces that a
class action lawsuit has been filed on behalf of all purchasers of
Constant Contact, Inc. (NASDAQ: CTCT) securities from October 23, 2014
through July 23, 2015, inclusive (the "Class Period"). The lawsuit seeks
to recover investors' losses under the federal securities laws.
To join the Constant Contact class action, visit the firm's website at http://www.rosenlegal.com/cases-693.html,
or contact Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at
866-767-3653 or via email at [email protected]
or [email protected] for
information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
According to the lawsuit, Constant Contact made false and/or misleading
statements and/or failed to disclose that: (1) Constant Contact's gross
customer additions were less than projected; (2) Constant Contact
suffered negative trends in consumer conversion rates; (3) Constant
Contact was directing new clients towards the cheapest packages; (4)
consequently, Defendants' statements about Constant Contact's business
operations and prospects were false and misleading and or/ lacked a
reasonable basis.
On July 23, 2015, Constant Contact announced its earnings results for
the second quarter of 2015 after the market closed with a weak third
quarter outlook. Constant Contact experienced low trial-to-conversion
rates in April and May of 2014 and a substantial swing in product mix
with about 80% of new clients picking the cheapest Email package instead
of more expensive options. On this news, shares of Constant Contact fell
$3.35 per share, over 11%, to close on July 24, 2015, at $26.18 per
share, on unusually heavy volume.
If you wish to serve as lead plaintiff, you must move the Court no later
than October 6, 2015. A lead plaintiff is a representative party acting
on behalf of other class members in directing the litigation. If you
wish to join the litigation, go to the firm's website at http://www.rosenlegal.com/cases-693.html
or to discuss your rights or interests regarding this class action,
please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law
Firm toll-free at 866-767-3653 or via e-mail at [email protected]
or [email protected].
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and shareholder
derivative litigation.
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