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Settlement in Lawsuit for Investors who Held Shares of Straight Path Communications Inc (NYSE American: STRP) Announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / June 12, 2018 / The Shareholders Foundation, Inc. announces that a settlement was reached in a lawsuit was filed for certain investors who formerly held Straight Path Communications Inc (NYSE American: STRP) shares.

Investors, who held shares of Straight Path Communications Inc., formerly (NYSE American: STRP), might have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On November 13, 2015, a lawsuit was filed against Straight Path Communications Inc (NYSE American: STRP) over alleged securities laws violations. The plaintiff claimed that defendants issued allegedly materially false and misleading statements to investors and/or allegedly failed to disclose that the commercialization prospect for Straight Path Communications Inc's spectrum assets is less than touted, that Straight Path Communications Inc's spectrum licenses were improperly obtained, and that as a result, Straight Path Communications Inc's public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. In June 2016, an amended complaint was filed and in August 2016, the defendants filed their motion to dismiss the case. In March 2017, the defendants and the lead plaintiff entered into a binding memorandum of understanding to settle the case. In October 2017 the parties filed a stipulation of settlement, which was amended in December 2017, and preliminarily approved by the court in February 2018.

Those who held shares of Straight Path Communications Inc (NYSE American: STRP), might have certain options and should contact the Shareholders Foundation.

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.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.