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NEW YORK, Aug. 11, 2015 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Constant Contact, Inc. ("Constant Contact") (NASDAQ:CTCT) between October 23, 2014 and July 23, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the District of Massachusetts. If you purchased or otherwise acquired Constant Contact securities between October 23, 2014 and July 23, 2015, your rights may be affected by this action. To get more information go to:
The complaint alleges that Constant Contact made false and/or misleading statements and/or failed to disclose that (a) Constant Contact's gross customer additions were less than projected; (b) Constant Contact suffered negative trends in consumer conversion rates; and (c) the Company was directing new clients towards the cheapest packages.
On July 23, 2015, Constant Contact announces its earnings results for the second quarter of 2015 and a weak third quarter outlook. The Company noted it 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 package instead of more expensive options. Upon this news, shares of Constant Contact fell over 11% to close on July 24, 2015 at $26.18 per share.
If you suffered a loss in Constant Contact you have until October 6, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comNEXT ARTICLE