Online Ad Co. Tremor Beats Investors' Suit Over $75M IPO
Law360, New York (March 5, 2015, 5:43 PM EST) -- A New York district judge has tossed a securities class action alleging that Tremor Video Inc. misled investors ahead of its 2013 initial public offering, saying accusations that the online video advertisement company knew about impending losses prior to the $75 million IPO were merely speculative and not based in fact.
In his Thursday order, U.S. District Judge Paul A. Crotty wrote that allegations that Tremor Video knew it was set to post losses after the IPO and intentionally left that information out of the prospectus it had filed with the U.S. Securities and Exchange Commission relied too heavily on speculation,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!