SAN DIEGO, CA / ACCESSWIRE / May 21, 2018 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in shares of QuinStreet, Inc. (QNST).
On April 11, 2018, a report was published asserting that QuinStreet's revenue growth is a "sham" and mainly the result of "malware redirects [and] bogus leads from web surfers trying to score [online currency.]".
On April 27, 2018, a lawsuit was filed against QuinStreet, Inc. over alleged violations of securities laws. The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that QuinStreet recklessly disregarded the occurrence of click-through fraud, that QuinStreet-owned websites experienced phony, low quality traffic for its clients, that QuinStreet's practices were not geared toward providing its clients with valuable customers or high-quality leads or clicks, and that as a result, Defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased QuinStreet, Inc. (QNST) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc.
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SOURCE: Shareholders Foundation, Inc.