Lawsuit for Investors in NYSE: SWCH shares against Switch, Inc. announced by Shareholders Foundation
SAN DIEGO, Sept. 18, 2018 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Switch, Inc. (NYSE: SWCH) shares.
Investors who purchased shares of Switch, Inc. (NYSE: SWCH) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On June 11, 2018, a lawsuit was filed against Switch, Inc. over alleged securities laws violations. The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that Switch’s Grand Rapids and Atlanta facilities would never be as profitable as its Las Vegas facility, diminishing the yield on Switch’s recent capital expenditures acquiring and building out those facilities will bear, that Switch’s high capital expenditures to create high redundancy levels at its facilities were not as profitable as they once had been in the past, that Switch had already spent an additional more than $64 million on unbudgeted capital expenditures during the third quarter of 2017 that was not disclosed to investors until after the IPO, that Switch recognized $9.4 million in revenues during FY17 that it would not provide colocation services for until FY18, meaning its reported FY17 revenue growth and its FY18 revenue prospects were both overstated, that eBay, Switch’s largest colocation customer, would not be taking possession of colocation space it had reserved at Switch’s Tahoe/Reno facility in early 2018, and that as a result of the foregoing, at the time of the IPO, Switch’s business and financial prospects were not what defendants had led the market to believe.
Those who purchased Switch, Inc. (NYSE: SWCH) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. It is not intended as legal advice and should not be relied upon.
CONTACT:Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 email@example.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108