Investigation Overview
November 11, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Tremor Video Inc (NYSE:TRMR) shares over potential securities laws violations by Tremor Video Inc 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 Tremor Video Inc (NYSE:TRMR) concerning whether a series of statements by Tremor Video Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Tremor Video Inc (NYSE:TRMR) reported that its annual Total Revenue rose from $90.30 million in 2011 to $105.19 million in 2012 and that its Net Loss declined from $21.02 million in 2011 to $16.64 million in 2012.
Tremor Video Inc went public with its IPO in late June 2013 at $10 per share.
On August 8, 2013, Tremor Video Inc reported that its quarterly Revenue rose from $24.77 million in the first quarter to $35.47 million in the the second quarter in 2013 and that its respective quarterly Net Loss declind from $5.16 million to $0.27 million.
Shares of Tremor Video Inc (NYSE:TRMR) reached in October 2013 over $11 per share.
Then on November 7, 2013, Tremor Video Inc reported its third quarter 2013 financial results. Tremor Video Inc said that in the third quarter 2013 its Revenue was $35.3 million and its Net Loss was $2.2 million. Among other things, Tremor Video Inc also issued its guidance for the fourth quarter and full year 2013.
Shares of Tremor Video Inc (NYSE:TRMR) dropped from $10.36 per share on November 7, 2013, to $4.29 per shares on November 11, 2013.