NEW YORK, Sept. 2, 2015 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of MaxPoint Interactive, Inc. ("MaxPoint Interactive") (NYSE:MXPT) pursuant or traceable to the Initial Public Offering on or about March 6, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. If you purchased or otherwise acquired MaxPoint securities pursuant to the IPO, your rights may be affected by this action. To get more information go to:
http://zlk.9nl.com/maxpoint-interactive-mxpt
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that the MaxPoint IPO offering documents failed to disclose material information, including that the Company was deriving two-thirds of its sales from only 50 customers, and that due to this high customer concentration, it was more exposed to those customers' budgetary proclivities and promotional activities. The complaint also alleges that MaxPoint had been signing smaller customers with smaller advertising budgets in the months leading up to the IPO, and that as a result, MaxPoint's sales growth was declining at the time of the IPO, which would have a material impact on MaxPoint's profitability.
If you suffered a loss in MaxPoint you have until October 30, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.