NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Super Group (SGHC) Limited (“Super Group” or the “Company”) SGHC. Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether the Super Group and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On May 25, 2022, during a conference call to discuss the company’s first quarter 2022 results, Super Group withdrew its fiscal 2022 revenue guidance of €1.4 billion and Adjusted EBITDA guidance of €345 million, stating, “[g]Given the observed volatility and known uncertainties, we are working on a new guidance for 2022 and should be able to provide an update on our expectations when we release second quarter results in August.”

As a result of this news, Super Group’s common stock 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, in a conference call to discuss the company’s second-quarter 2022 results, Super Group provided full-year 2022 revenue guidance of “between €1.15 billion and €1.28 billion” and an adjusted one EBITDA guidance announced of “between EUR 200 million” and EUR 250 million.” Super Group attributed the reduced guidance to “continued pressure from multiple economic and regulatory headwinds combined with a further degree of post-COVID normalization”.

As a result of this news, Super Group’s common stock price fell $0.69 per share, or 12.19%, to close at $4.97 per share on August 11, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Action Law Firm, Pomerantz pioneered the field of…