Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Marchex Inc (NASDAQ: MCHX) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Marchex Inc (NASDAQ: MCHX) concerning whether a series of statements by Marchex Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On September 18, 2014, Marchex reported to it needed to lower future guidance as a result of a shift in one of its key customer’s payment model. The Company report states (among other things) Marchex, “lower[ed] its 2014 call-driven revenue outlook . . . [a]s a result of revised commitments from Allstate in the fourth quarter.” Marchex stated that Allstate sought to switch its business with Marchex to a fixed-fee basis from payments made for each call. After the release of this news, shares of Marchex declined $3.38 per share, or over 45%, to close on September 18, 2014 at $4.01 per share, on volume of over 10 million shares.
Based in Seattle, WA and founded in 2003, Marchex Inc is a mobile advertising technology company that offers data and insights to measure the performance of mobile, online, and offline ad campaigns for advertisers and small business resellers. Additionally, they offer a service advertising solution for small business resellers, such as Yellow Pages providers and vertical marketing service providers to sell call advertising, search marketing, and other lead generation products through their existing sales channels to their small business advertisers.
If you purchased shares of Marchex Inc (NASDAQ: MCHX) on or before September 18, 2014, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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