Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action against Infoblox Inc. and Lead Plaintiff Deadline of July 29, 2014
NEW YORK, June 2, 2014 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed in the United States District Court for the Northern District of California on behalf of those who purchased shares of Infoblox Inc. ("Infoblox" or the "Company") (NYSE: BLOX), during the period between September 6, 2013 and February 10, 2014, inclusive (the "Class Period").
The complaint charges Infoblox and certain of its executives with violations of federal securities laws. On February 10, 2014, after the market close, Infoblox provided preliminary fiscal second quarter ("2Q") 2014 results and updated its outlook for fiscal year 2014. For the first time, the Company disclosed that it had been "discounting enormously to get deals." The Company revised its guidance downward both for its second quarter ending January 31, 2014 and for its fiscal year ending July 31, 2014. The Company stated that it now predicted revenue of $60 to $61 million for 2Q 2014, down from the previous expectation of $65 to $66 million and a non-GAAP earnings per share ("EPS") of $0.10 to $0.12, versus previous estimates of $0.09 to $0.11. For its full year outlook, Infoblox revised external revenue projections to $250 to $254 million, down from previous guidance over the last two quarters of $270 to $276 million. EPS was updated to be $0.30 to $0.34 diluted earnings per share, lower than previous guidance over the last two quarters for full year earnings of $0.44 to $0.54.
On this news, shares of Infoblox fell $15.95 per share to $17.19, or more than 48.12%, in intraday trading on February 11, 2014.
Plaintiff seeks to recover damages on behalf of all Infoblox shareholders who purchased common stock during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. July 29, 2014 is the deadline for investors to seek a lead plaintiff appointment. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
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