The investigation concerns whether QuinStreet and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 11, 2018, Kerrisdale Capital published a report entitled “QuinStreet, Inc. (QNST) Leading Nowhere.” Kerrisdale’s report asserted that QuinStreet was involved in generating fake and low-quality click-through web traffic for its clients, and stated, in part, that “we struggle to reconcile QuinStreet’s current valuation with its dubious long-term franchise value.”
On this news, QuinStreet’s share price fell $2.18, or 17.6%, to close at $10.14 on April 11, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP
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