Update in Lawsuit for Investors in NYSE MKT: STS Shares Against Supreme Industries, Inc. Announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / March 21, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit is pending in Indiana for certain purchasers of shares of Supreme Industries, Inc. (NYSE MKT: STS) over alleged Securities Laws Violations by Supreme Industries, Inc.

Investors who purchased shares of Supreme Industries, Inc. (NYSE MKT: STS) in June 2016 or earlier and currently hold any of those NYSE MKT: STS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

The lawsuit was originally filed in November 2016, and is currently pending against Supreme Industries, Inc. The plaintiff alleged that the defendants were in violation of the Securities Exchange Act of 1934. More specifically, the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that the backlog figure from the third quarter of 2015 was a result of the timing of several large orders placed in that quarter, that the backlog figure for the third quarter of 2016 would not be close to the backlog figure of the third quarter of 2015, and that as a result, defendants’ public statements about Supreme Industries’ business, operations and prospects were materially false and misleading at all relevant times.

According to the complaint, following an October 21, 2016 press release, conference call, and report announcing that the lower backlog comparison is due to two large fleet replacement orders and the timing of an annual fleet account order received during the third quarter of last year and that the circumstances surrounding the backlog of the third quarter of 2015 was unique, the value of Supreme Industries, Inc. (NYSE MKT: STS) shares declined significantly.

On February 14, 2017, the case was transferred from the U.S. District Court for the Central District of California to the U.S. District Court for the Norther District of Indiana.

Those who purchased Supreme Industries, Inc. (NYSE MKT: STS) 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. It is not intended as legal advice and should not be relied upon.

CONTACT:

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

SOURCE: Shareholders Foundation, Inc.

ReleaseID: 457806