NEW YORK, April 06, 2018 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Synacor, Inc. (“Synacor” or the “Company”) (Nasdaq:SYNC) in the United States District Court for the Southern District of New York on behalf of a class consisting of investors who purchased or otherwise acquired Synacor securities on the open market from May 4, 2016 and March 15, 2018, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.

The Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was unlikely to receive significant revenues from the AT&T Contract until 2018; (2) as such, the Company’s revenue forecasts issued during the Class Period were materially false and misleading; and (3) as a result of the foregoing, the Company’s shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the June 4, 2018 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.