Market Overview

The Klein Law Firm Reminds Investors of an Investigation Concerning Possible Violations of Federal Securities Laws by Synacor, Inc. (SYNC)


The Klein Law Firm announces the commencement of an investigation of
Synacor, Inc. (NASDAQGM: SYNC) concerning possible violations of federal
securities laws.

On May 4, 2016, Synacor announced it had secured a contract with AT&T
Inc. to host web and mobile services. On August 9, 2017, Synacor issued
a press release announcing that "The joint AT&T-Synacor team has made
the strategic decision to prioritize portal engagement right now over
monetization." In the press release, Synacor CEO Himesh Bhise was quoted
as stating that "a significant portion of the revenue that we were
expecting in Q3 and Q4 this year is delayed to 2018, and we are
adjusting our financial guidance for 2017 accordingly." Then on March
15, 2018, the Company held a conference call during which Bhise noted
that "in the last three quarters of 2017, we generated approximately $25
million in revenue from AT&T." Bhise noted that "Clearly, this forecast
is below the $100 million annual revenue target that AT&T and Synacor
announced when we first discussed the portal contract…" Following this
news, shares of Synacor fell more than 14% to close at $1.75 on March
16, 2018.

If you suffered a loss in Synacor and wish to obtain additional
information, please contact Joseph Klein, Esq. by telephone at
212-616-4899 or visit

Joseph Klein, Esq. represents investors and participates in securities
litigations involving financial fraud throughout the nation. Attorney
advertising. Prior results do not guarantee similar outcomes.

View Comments and Join the Discussion!