Switch, (SWCH) Alert: Johnson Fistel Announces Investigation of Switch, Inc.; Encourages Investors to Contact the Firm for Additional Information

SAN DIEGO, April 3, 2018 /PRNewswire/ -- Johnson Fistel, LLP, is investigating potential violations of the federal securities laws by Switch, Inc., (NYSE: SWCH) ("Switch") and certain of its officers and directors. Switch, through its subsidiary, Switch, Ltd., provides colocation space and related services to technology and digital media companies, cloud and managed service providers, financial institutions, government agencies, and telecommunications providers that conduct critical business on the Internet.

On Monday, April 2, 2018, Switch reported a loss of $67 million in its fourth quarter. On a per-share basis, the Company said it had a loss of $2.09. Losses, adjusted for non-recurring costs, came to 47 cents per share.The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.

On October 6, 2017, Switch sold 31,250,000 million shares of stock in its initial public stock offering (the "IPO"), at $17 a share raising $531,250,000 in new capital.  However, since the IPO, Switch stock has imploded, on April 3, 2018, in pre-market trading the stock was trading below $14.

Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its October 2017 initial public stock offering (the "IPO") contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.

If you have information that could assist in this investigation, or if you are a Switch shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471 
jimb@johnsonfistel.com

View original content:http://www.prnewswire.com/news-releases/switch-swch-alert-johnson-fistel-announces-investigation-of-switch-inc-encourages-investors-to-contact-the-firm-for-additional-information-300623474.html

SOURCE Johnson Fistel, LLP