An investigation on behalf of investors of QuinStreet, Inc. (NASDAQ: QNST) shares over potential securities laws violations by QuinStreet and certain of its directors and officers in connection with certain financial statements was announced.

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

Foster City, CA based QuinStreet, Inc., an Internet performance marketing and media company, provides customer acquisition services for its clients in the United States and internationally. QuinStreet, Inc. reported that its Total Revenue rose from $297.7 million for the 12 months period that ended on June 30, 2016 to $299.78 million for the 12 months period that ended on June 30, 2017 and that its Net Loss for those time period declined from $19.42 million to $12.2 million.

Shares of QuinStreet, Inc. (NASDAQ: QNST) grew from $2.65 per share in March 2017 to as high as $13.87 per share in February 2018.

On April 11, 2018, Kerrisdale Capital published a report asserting that QuinStreets revenue growth is a sham and mainly the result of malware redirects [and] bogus leads from web surfers trying to score [online currency.]

Shares of QuinStreet, Inc. (NASDAQ: QNST) declined on April 11, 2018 to $9.76 per share.