|[May 09, 2014]
Wolf Haldenstein Adler Freeman & Herz LLP is Investigating Potential Class Action Claims on Behalf of Purchasers of Liquidity Services, Inc.
NEW YORK --(Business Wire)--
Wolf Haldenstein Adler Freeman & Herz LLP is investigating a potential
securities class action lawsuit on behalf of investors in Liquidity
Services, Inc. ("Liquidity Services (News - Alert)" or the "Company") (NASDAQ: LQDT),
who purchased the Company's stock from January 21, 2013 through May 7,
2014. Investors are urged to contact Gregory Stone at email@example.com
The Company operates an online auction marketplace for wholesale,
surplus and salvage assets for both the Federal government and private
On the morning of May 8, 2014, the Company reported its financial
results for the second quarter of fiscal year of 2014, which were below
previously provided estimates, and drastically reduced its guidance for
the third quarter and the remainder of the fiscal year 2014. As a
result, the stock closed at $12.17, own $5.14 for the day, a decline of
30% from its previous close.
During the past year, there have been similar patterns of earnings
misses, preceded by very opportune sales of stock by insiders. For
example, on November 21, 2013, the Company released earnings for the
fourth quarter of 2013 of $0.32 per share that were below consensus
estimates of $0.45 per share, resulting in the stock closing at $21.83,
down $4.87 for the session. In the quarter prior to this release,
insiders sold close to 700,000 shares.
Wolf Haldenstein has represented individual and institutional investors
for many years, serving as lead counsel in numerous cases in United
States federal and state courts. Please visit the Wolf Haldenstein
for more information about the firm.
Gregory Stone or Gregory M. Nespole, Esq.
Wolf Haldenstein Adler
Freeman & Herz LLP
270 Madison Avenue
New York, New York
Phone (News - Alert) Numbers:
Email: Classmember@whafh.com, firstname.lastname@example.org
or Nespole@whafh.com and please
reference "Liquidity Services Investigation."
Attorney Advertising. Prior results do not guarantee or predict a
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