NYSE MKT
STRP

Straight Path Communications Inc.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Straight Path Communications Inc. (NYSE MKT: STRP)

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities that purchased the common stock of Straight Path Communications Inc. (“Straight Path” or the “Company”) (NYSE MKT: STRP) between October 29, 2013 and November 5, 2015, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Straight Path during the Class Period, or purchased shares prior to the Class Period and still hold Straight Path, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on October 29, 2015, Kerrisdale Capital published a report questioning the commercial viability of Straight Path's spectrum licenses.  Following this report, shares of the Company's common stock fell over 38%, closing at $29.35 per share on October 29, 2015.

Then, on November 5, 2015, Sinclair Upton Research published a report asserting, among other things, that the "vast majority" of Straight Path's spectrum licenses "were obtained under fraudulent misrepresentation, because the systems were never built on the sites" as specified in regulatory filings.

On this news, shares of Straight Path plummeted over 51%, closing at $12.81 per share on November 5, 2015, on heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than January 12, 2016.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Attorney advertising.  Prior results do not guarantee a similar outcome.