The Shareholders Foundation announces that an investigation on behalf of investors of Gigamon Inc (NYSE:GIMO) shares was initiated over potential securities laws violations by Gigamon and certain of its directors and officers in connection certain financial statements.
Investors who purchased shares of Gigamon Inc (NYSE:GIMO) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Gigamon Inc (NYSE:GIMO) concerning whether a series of statements by Gigamon Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On February 4, 2014, Gigamon Inc announced its financial results for the fourth quarter and fiscal year ended on December 28, 2013.
Gigamon Inc reported that its annual Total Revenue rose from $68.11 million in 2011 to $140.29 million in 2013, while its respective Net Income declined from $16.93 million in 2011 to a Net Loss of $9.54 million in 2013. Shares of Gigamon Inc (NYSE:GIMO) declined from $41.54 per share in September 2013 to as low as $25.46 per share in December 2013. Since then NYSE:GIMO shares climbed to $36.29 per share in March 2014.
Then on April 7, 2014, Gigamon Inc announced its preliminary first quarter results for the first waurter of its fiscal year 2014. Among other things, Gigamon Inc said that it expects revenue for the first quarter to be approximately $31.0 million to $31.5 million, below the company’s previously stated guidance of $34.0 million to $35.0 million
Shares of Gigamon Inc (NYSE:GIMO) declined to as low as $14.79 per share on April 15, 2014 and closed on April 21, 2014 at $15.36 per share.
Those who purchased shares of Gigamon Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com