World News: 14:50 GMT Friday 15th March 2019. [Levi & Korsinsky, LLP via Globe Newswire via SPi World News]
NEW YORK, March 15, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
According to the complaint, in June 2018, EverQuote held its IPO based on a misleading registration statement. EverQuote's registration statement touted the company's year-over-year and quarterly increases in both revenue and quote request volume, even though the company had strategized to lower its quote request volume to inflate other financial metrics ahead of the IPO.
EverQuote's first public earnings report revealed that second quarter 2018 quote request volume had worsened to a year-over-year growth rate of only 2.3%—down from 14.3% touted in the registration statement—and to a quarterly decline of 12%. Then, in November 2018, EverQuote revealed that quote request volume had worsened to zero growth, causing the company's stock to plummet dramatically.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLPJoseph E. Levi, Esq.55 Broadway, 10th FloorNew York, NY 10006 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171
Globe Newswire: 14:50 GMT Friday 15th March 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 0751938.