QuinStreet, Inc.

Practice Area: 
Stock Symbol: 
QNST
Case Status: 
Investigations

Ademi & O’Reilly, LLP is investigating possible securities fraud claims against QuinStreet (Nasdaq: QNST) resulting from inaccurate statements QuinStreet made regarding its business practices, financial statements and prospects.

The investigation focuses on whether QuinStreet issued false and misleading statements regarding its business practices and prospects.  Specifically, QuinStreet could not achieve its financial guidance and projections because the company (i) needed to  reorganize its organizational structure to eliminate “silos and consolidate functional management”; (ii) lacked an experienced operating executive to oversee its media operations, the most complex and operationally intensive area of its organization; (iii) needed to add new executives and realign assignments “across the organization to install more experience and better oversight and accountability for key initiatives”; and (iv) needed to implement improved management reporting “whereby key initiatives, old and new, in the media and client groups could be tracked centrally, more frequently, and more formally.”