The Shareholders Foundation announces that a deadline is coming up on December 8, 2014 in the lawsuit filed for investors of Textura Corp (NYSE:TXTR) over alleged violations of Federal Securities Laws by Textura Corp.
Investors who purchased shares of Textura Corp (NYSE:TXTR) have certain options and there are strict and short deadlines running. Deadline: December 8, 2014. Textura Corp (NYSE:TXTR stockholders should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the District Court for the Northern District of Illinois the plaintiff alleges on behalf of purchasers of Textura Corp (NYSE:TXTR) common shares between August 7, 2013 and September 29, 2014, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that Textura Corp made false and misleading statements and/or failed to disclose that Textura Corp did not charge general contractors and subcontractors as many basis points for using its Construction Payment Management (”CPM”) as it claimed, that Textura Corp overstated its total addressable market, and that Textura Corp as a result of the foregoing, Textura Corp’s financial statements were materially false and misleading at all relevant times.
On December 26, 2013, Citron Research issued a report asserting that Textura has greatly exaggerated its true financial performance. The report asserts, among others things, that Textura: initially lied about its revenue growth and subscriber churn rates to the SEC in its original registration statement, and later withdrew such misstatements; omitted ties of its management and employees to an OTC stock whose promoters are now imprisoned; failed to disclose revenues generated from related party referrals; and exaggerated business metrics to deceive investors. Shares of Textura Corp (NYSE:TXTR) declined from $41.16 per share on December 20, 2013 to $14.23 per share in May 2014.
Since then shares of Textura Corp (NYSE:TXTR) grew from under $15 per share in May 2014 to as high as $30.17 per share in August 2014.
Then on September 29, 2014 Citron Research issued another report stating that “Textura and its management mislead [sic] the investing public in so many ways that it can only be considered a complete investment FRAUD.” Shares of Textura Corp (NYSE:TXTR) declined from $28.40 per share to $23.65 per share on September 29, 2014.
On December 5, 2014, NYSE:TXTR shares closed at $26.40 per share.
Those who purchased shares of Textura Corp have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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