San Diego, CA -- (ReleaseWire) -- 05/06/2014 -- An investigation on behalf of investors of Covisint Corp (NASDAQ:COVS) shares over potential securities laws violations by Covisint and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Covisint Corp (NASDAQ:COVS) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Covisint Corp (NASDAQ:COVS) concerning whether a series of statements by Covisint regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Covisint Corp reported that its Total Revenue rose from $40.45 million for the 12 months period that ended on March 31, 2010 to $90.73 million for the 12 months period that ended on March 31, 2013.
On September 26, 2013 Covisint stock opened for trading at $12.60 the day the Company sold 6.4 million shares of stock in its initial public stock offering (the "IPO").
Shares of Covisint Corp (NASDAQ:COVS) reached $14.46 per share in late October 2013.
Then on January 23, 2014, Covisint Corp announced its third quarter fiscal 2014 earnings results. Shares of Covisint Corp declined from $12.84 per share on January 23, 2014 to $8.74 per share on January 27, 2014. Then on March 13, 2014, Covisint Corp announced its preliminary Q4 fiscal year 2014 result and named Sam Inman interim CEO. Shares of Covisint Corp declined from $11.41 per share on March 7, 2014, to $6.80 per share on March 20, 2014.
On May 2, 2014, NASDAQ:COVS shares closed at $6.97 per share.
Those who purchased shares of Covisint Corp (NASDAQ:COVS), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego