NEW YORK–(BUSINESS WIRE)–#Action–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Super Group (SGHC) Limited (“Super Group” or the “Company”) (NYSE: SGHC) on behalf of Super Group stockholders. Our investigation concerns whether Super Group has violated the federal securities laws and/or engaged in other unlawful business practices.
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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 purchased or otherwise acquired Super Group shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.