Aug 16, 2022 (ACCESSWIRE via COMTEX) -- NEW YORK, NY / ACCESSWIRE / August 16, 2022 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Super Group (SGHC) Limited("Super Group" or the "Company") /zigman2/quotes/222659827/composite SGHC +2.48% . Investors who purchased Super Group securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/sghc .
The investigation concerns whether Super Group has violated federal securities laws.
On May 25, 2022, on a conference call to discuss the Company's first quarter 2022 results, Super Group withdrew its fiscal year 2022 revenue guidance of €1.4 billion and adjusted EBITDA guidance of €345 million, stating that "[g]iven the volatility we've seen and known uncertainties, we're working on a reforecast for 2022 and should be able to provide an update about our expectations when we release second quarter results in August." On this news, Super Group's ordinary share price fell $1.89 per share, or 23.28%, to close at $6.23 per share on May 25, 2022. Then, on August 11, 2022, on a conference call to discuss the Company's second quarter 2022 results, Super Group provided fiscal year 2022 revenue guidance of "between €1.15 billion and €1.28 billion" and adjusted EBITDA guidance of "between €200 million and €250 million." Super Group attributed the reduced guidance to "ongoing pressures from multiple economic and regulatory headwinds, together with some further degree of post-COVID normalization." On this news, Super Group's ordinary share price fell $0.69 per share, or 12.19%, to close at $4.97 per share on August 11, 2022.
If you are aware of any facts relating to this investigation or purchased Super Group shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/sghc . You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | firstname.lastname@example.org
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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