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Synacor, Inc. (SYNC) Loss Submission Form

The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Synacor, Inc. (NASDAQ: SYNC) who purchased shares between May 4, 2016 and March 15, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.

In particular, the SYNC lawsuit alleges that (i) Synacor was unlikely to receive significant revenues from its contract with AT&T until 2018; (ii) as such, the Company's revenue forecasts issued during the Class Period were materially false and misleading; and (iii) as a result of the foregoing, Synacor shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.

On May 4, 2016, Synacor announced it had secured a three-year contract with AT&T to host web and mobile services. On August 9, 2017, Synacor issued a press release announcing that “The joint AT&T-Synacor team has made the strategic decision to prioritize portal engagement right now over monetization.” Synacor CEO Himesh Bhise was quoted as stating that “a significant portion of the revenue that we were expecting in Q3 and Q4 this year is delayed to 2018, and we are adjusting our financial guidance for 2017 accordingly.” Then on March 15, 2018, the Company held a conference call during which Bhise noted that “in the last three quarters of 2017, we generated approximately $25 million in revenue from AT&T” and that “Clearly, this forecast is below the $100 million annual revenue target that AT&T and Synacor announced when we first discussed the portal contract…”. Following this news, shares of Synacor fell more than 14% to close at $1.75 on March 16, 2018.

Shareholders have until June 4, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.

Keep Me Informed

There is no cost or obligation. This submission does not create an attorney-client relationship. If we believe that you might be an appropriate lead plaintiff, we will contact you to discuss whether to establish an attorney-client relationship.

This letter confirms that you have retained The Klein Law Firm to represent you as a named plaintiff in a shareholder action involving Synacor, Inc.

We agree to advance all expenses in the litigation, which means that you are not liable to pay any of the expenses of the lawsuit, whether attorneys' fees or costs. Regardless of the result, we will never ask you to directly pay for any attorneys' fees or costs. Should we obtain a favorable result, we may ask the court to award us compensation to be paid by the defendants or as a portion of any class benefit, but, again, we will never ask you to directly pay any of the costs of this litigation.

As the client you are entitled to direct the litigation in any way you deem proper, and may at any time order us to dismiss the case or opt-out. Should you choose to do so, we will never ask you to reimburse us directly for any legal fees or expenses. During the course of this litigation, we may employ and/or work with other law firms to prosecute your case.

We look forward to representing you and other Synacor, Inc. shareholders.

Sincerely,

The Klein Law Firm

Joseph Klein

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