TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

Constant Contact Inc (NASDAQ: CTCT) Investor Securities Class Action Lawsuit 08/07/2015

  • If you purchased shares of Constant Contact Inc (NASDAQ: CTCT), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Constant Contact, Inc.
Security
NASDAQ: CTCT

Case Name
Constant Contact Shareholder Class Action Lawsuit 08/07/2015
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Massachusetts

Class Period Begin
Class Period End
Deadline To File for Lead
You must register or login to receive notifications.

Click here to subscribe to Constant Contact, Inc..
Summary

May 18, 2018 - Parties filed a stipulation of settlement.
February 24, 2017 - Defendants filed a motion to dismiss.

December 19, 2016 - The lead plaintiff filed an amended complaint on behalf of investors who purchased Constant Contact Inc (NASDAQ: CTCT) common shares between July 25, 2014 and July 23, 2015. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between July 25, 2014 and July 23, 2015.

October 6, 2015 - Lead plaintiff motions were filed.

August 7, 2015 - An investor in shares of Constant Contact Inc (NASDAQ: CTCT) filed a lawsuit over alleged violations of Federal Securities Laws by Constant Contact Inc in connection with certain allegedly false and misleading statements made between October 23, 2014 and July 23, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Constant Contact Inc (NASDAQ: CTCT) common shares between October 23, 2014 and July 23, 2015, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between October 23, 2014 and July 23, 2015 defendants made false and/or misleading statements and/or failed to disclose that Constant Contact Inc’s gross customer additions were lower than expected, that Constant Contact Inc was experiencing negative trends in customer conversion rates, that Constant Contact Inc was steering new customers towards the lowest-priced packages, that, as a result, Constant Contact Inc’s revenues for 2015 would be below expectations, and that, as a result of the foregoing, Defendants’ statements about Constant Contact Inc’s business operations and prospects were false and misleading and/or lacked a reasonable basis.

Constant Contact Inc reported that its annual Total Revenue rose from $285.38 million in 2013 to $331.68 million in 2014 and that its respective Net Income increased from $7.21 million to $14.31 million.

Shares of Constant Contact Inc (NASDAQ: CTCT) grew from $$22.19 per share in April 2014 to as high as $42.48 per share in February 2015.

On April 30, 2015, Constant Contact Inc announced its first quarter 2015 financial results. Among other things, Constant Contact Inc also issued its guidance for the second quarter and full year 2015. Shares of Constant Contact Inc (NASDAQ: CTCT) declined to as low as $25.00 per share on May 1, 2015.

On July 23, 2015, after the market closed, Constant Contact Inc posted earnings results for the second quarter of 2015 and lowered revenue outlook for the third quarter. Shares of Constant Contact Inc (NASDAQ: CTCT) declined from $31.54 per share on July 17, 2015, to as low as $24.65 per share on July 30, 2015.