WAYNE, Pa., Dec. 2, 2014 /PRNewswire/ -- Ryan & Maniskas, LLP announces that it has filed a class action lawsuit in the United States District Court for the Northern District of California, on behalf of all persons who purchased or otherwise acquired common stock of FireEye, Inc. ("FireEye" or the "Company") (NASDAQ: FEYE) between January 2, 2014 through November 4, 2014, inclusive (the "Class Period").
FireEye shareholders may, no later than January 26, 2015, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of FireEye and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/feye.
On May 6, 2014, FireEye announced its first quarter results, surprising investors and analysts. The Company's $24.3 million in product revenue fell meaningfully short of analysts' estimates of $31 million and reflected a move away from FireEye's organic software business and towards service-oriented offerings which lacked the same potential for profitability. In reaction to these disclosures, FireEye closed at $28.65, down $8.48 per share. This 23% decline represented a market capitalization loss of over $1.25 billion.
The Company's stock continued its precipitous decline, plummeting to close at a low of $25.76 on October 10, 2014, down 73.1% from its Class Period high of $95.63 on March 5, 2014. Notwithstanding the Company's declining product revenue and the marked turn away from its organic software business, Defendants continuously touted FireEye's organic and acquired growth as reasons for optimism and promising future results. Finally, on November 4, 2014, after the market closed for trading, the Company released disappointing third quarter results that missed analysts' expectations, and further revealed the Company's virtual abandonment of its core software product business model, resulting in a quarterly loss of $0.51 per share.
If you are a member of the class, you may, no later than January 26, 2015, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
If you purchased FireEye common stock during the Class Period either in the open market and/or pursuant to the Secondary Public Offering (SPO) on March 6, 2014, and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free: (877) 316-3218 or visit: www.rmclasslaw.com/cases/feye. You may also email Mr. Maniskas at [email protected]. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
CONTACT:
Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old Eagle School Rd., Suite 311
Wayne, PA 19087
877-316-3218
[email protected]
www.rmclasslaw.com/cases/feye
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SOURCE Ryan & Maniskas, LLP
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