Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $9.45 Million Settlement in the Straight Path Communications Inc (NYSEMKT: STRP) Investor Lawsuit

Via: ReleaseWire

Updated 1:44 PM CDT, Fri, July 27,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Straight Path Communications Inc (NYSEMKT: STRP) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on August 2, 2018 and NYSEMKT: STRP investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 07/27/2018 -- A deadline is coming up on August 2, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Straight Path Communications Inc (NYSEMKT: STRP) between August 1, 2013 and July 22, 2016.

Investors who purchased a significant amount of shares of Straight Path Communications Inc (NYSEMKT: STRP) between August 1, 2013 and July 22, 2016, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Straight Path Communications Inc (NYSEMKT: STRP) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/straight-path-communications-inc-nysemkt-strp-investor-securities-class-action-lawsuit-11132015

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is August 2, 2018. The class action administrator for this case is A.B. Data Ltd.

The lawsuit was originally filed in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Straight Path Communications Inc in connection with certain allegedly false and misleading statements made between October 29, 2013 and November 5, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Straight Path Communications Inc (NYSEMKT: STRP) common shares between October 29, 2013 and November 5, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 29, 2013 and November 5, 2015 defendants issued allegedly materially false and misleading statements to investors and/or allegedly failed to disclose that the commercialization prospect for Straight Path Communications Inc's spectrum assets is less than touted, that Straight Path Communications Inc's spectrum licenses were improperly obtained, and that as a result, Straight Path Communications Inc's public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Straight Path Communications Inc (NYSEMKT: STRP) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-945-million-settlement-in-the-straight-path-communications-inc-nysemkt-strp-investor-lawsuit-1019900.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com