NEW YORK, June 6, 2014 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Infoblox Inc. ("Infoblox") (NYSE: BLOX).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the Company employed heavy discounting to retain market share; and (2) Infoblox was not closing on larger deals that had contributed significantly to its revenue growth.
On May 29, 2014, Infoblox revealed a net loss of $7.4 million for the third quarter of fiscal 2014. That same day, Infoblox announced that Robert D. Thomas was stepping down as the Company's president and chief executive officer. Following this news, the price of Infoblox shares plummeted by $7.56 per share, or nearly 37%, to close on May 30, 2014, at $12.96 per share.
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If you invested in Infoblox stock or options between September 5, 2013 and May 29, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/BLOX. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Infoblox's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
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Attn: Richard Gonnello, Esq.
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