NEW YORK, Oct. 4, 2015 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights firm, reminds purchasers of Constant Contact, Inc. (NASDAQ:CTCT) securities from October 23, 2014 through July 23, 2015, inclusive (the "Class Period") of the important October 6, 2015 lead plaintiff deadline in the class action. The lawsuit seeks to recover investors' losses under the federal securities laws.
To join the Constant Contact class action, visit the firm's website at http://www.rosenlegal.com/cases-693.html, or contact Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Constant Contact made false and/or misleading statements and/or failed to disclose that: (1) Constant Contact's gross customer additions were less than projected; (2) Constant Contact suffered negative trends in consumer conversion rates; (3) Constant Contact was directing new clients towards the cheapest packages; (4) consequently, Defendants' statements about Constant Contact's business operations and prospects were false and misleading and or/ lacked a reasonable basis.
On July 23, 2015, Constant Contact announced its earnings results for the second quarter of 2015 after the market closed with a weak third quarter outlook. Constant Contact experienced low trial-to-conversion rates in April and May of 2014 and a substantial swing in product mix with about 80% of new clients picking the cheapest Email package instead of more expensive options. On this news, shares of Constant Contact fell $3.35 per share, over 11%, to close on July 24, 2015, at $26.18 per share, on unusually heavy volume.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 6, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm's website at http://www.rosenlegal.com/cases-693.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.