May 09, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Bottomline Technologies (NASDAQ:EPAY) shares over potential securities laws violations by Bottomline Technologies and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Bottomline Technologies (NASDAQ:EPAY) concerning whether a series of statements by Bottomline Technologies regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Bottomline Technologies reported that its total Revenue rose from $300.58 million for the 12 months period that ended on June 30, 2014 to $330.89 million for the 12 months period that ended on June 30, 2015, while its Net Loss for those respective time periods increased from $19.10 million to $34.68 million.

On April 28, 2016, after the market closed, Bottomline Technologies reported its third quarter results.

Shares of Bottomline Technologies (NASDAQ:EPAY) dropped from $30.37 per share on April 28, 2016 to as low as $2.06 per share on April 29, 2016.