An investor in NYSE:GIMO shares filed a lawsuit over alleged violations of Federal Securities Laws by Gigamon Inc.
Investors who purchased shares of Gigamon Inc (NYSE:GIMO) have certain options and for certain investors are short and strict deadlines running. Deadline: March 28, 2017. NYSE:GIMO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Gigamon Inc (NYSE:GIMO) common shares between October 27, 2016 and January 17, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 27, 2016 and January 17, 2017, the Defendants failed to disclose that Gigamon was experiencing reduced product bookings in its North America West region, that several of the Company’s significant customers were deferring purchasing decisions into 2017, that the Company failed to properly include these trends in its financial guidance, and that, as a result of the foregoing, Defendants’ statements about Gigamon’s business, operations, and prospects, including statements about its revenue guidance, were false and misleading and/or lacked a reasonable basis.
Gigamon Inc reported that its annual Total Revenue rose from $157.13 million in 2014 to $221.97 million in 2015 and that its Net Loss of $40.79 million in 2014 turned into a Net Income of $6.19 million in 2015.
Shares of Gigamon Inc (NYSE:GIMO) grew from $22.54 per share in January 2016 to as high as $60.35 per share in November 2016.
On January 17, 2017, Gigamon Inc announced its preliminary fourth quarter and fiscal year 2016 results. In the report, Gigamon Inc announced that fourth quarter revenue for the period ending December 31, 2016 would be less compared to the prior year’s guidance. According to Gigamon Inc, its fourth quarter revenue fell short due to “lower than expected product booking” as well as the decision of existing customers to hold “purchasing decisions into 2017.”
Shares of Gigamon Inc (NYSE:GIMO) declined to as low as $30.50 per share on January 18, 2017.
On February 7 2017 NYSE:GIMO shares closed at $31.40 per share.
Those who purchased NYSE:GIMO shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Leave Your Comments