NEW YORK, Aug 16, 2022 (GLOBE NEWSWIRE via COMTEX) -- NEW YORK, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Super Group (SGHC) Limited ("Super Group" or the "Company") /zigman2/quotes/222659827/composite SGHC -2.82% . Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Super Group and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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 EUR1.4 billion and adjusted EBITDA guidance of EUR345 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 EUR1.15 billion and EUR1.28 billion" and adjusted EBITDA guidance of "between EUR200 million and EUR250 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.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com .
Robert S. Willoughby
888-476-6529 ext. 7980
Is there a problem with this press release? Contact the source provider Comtex at email@example.com. You can also contact MarketWatch Customer Service via our Customer Center.
(C) Copyright 2022 GlobeNewswire, Inc. All rights reserved.