Lowey Dannenberg is investigating Blucora, Inc. (“Blucora” or the “Company”) (NASDAQ: BCOR) and certain of its officers and/or directors for potential violation of federal securities laws or other unlawful business practices in connection with the sudden departure of Blucora’s Chief Executive Officer (“CEO”).
On January 16, 2020, Blucora announced that its President and CEO, John Clendening, has stepped down from his role as CEO, as a result of “differences in views on the scope of Mr. Clendening’s authority.” Blucora anticipated announcing a new CEO by the end of January 2020. The news came ten days after Blucora’s Chief Financial Officer, Davinder Athwal announced that he was resigning from the Company at the end of January 2020.
Following the news of Blucora’s CEO’s departure, the price of Blucora’s shares fell sharply during intraday trading on January 16, 2020 to close at $22.95, representing a price drop of more than 6% during a single trading day. The decline in the price of Company shares caused significant financial losses to investors.
If you are a shareholder of Blucora who suffered a loss, we encourage you to contact attorney Andrea Farah of Lowey Dannenberg at (914) 733-7256 or afarah@lowey.com to learn more about this investigation or to discuss your options. For more information, you can also visit the investigation page on our website, lowey.com/securities.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million dollar lawsuits and has in the past recovered billions of dollars on behalf of investors.
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Contact:
Andrea Farah
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256
Email: afarah@lowey.com