NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Super Group (SGHC) Limited (“Super Group” or the “Company”) (NYSE: 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 full-year 2022 revenue guidance of €1.4 billion and Adjusted EBITDA guidance of €345 million, stating, “[g]Given the volatility we have seen 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 EBITDA Guidance announced of “between €200 million” and €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, known as the Dean of the…