Jun 26, 2015, 05:48 ET
NEW YORK, June 26, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in MobileIron, Inc. ("MobileIron" or the "Company") (NASDAQ: MOBL) of the June 30, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against MobileIron and certain executives.
A complaint has been filed in the Northern District of California on behalf of all persons who purchased MobileIron securities from February 13, 2015 through April 22, 2015 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, the Company made false and/or misleading statements and/or failed to disclose that MobileIron had unrealistic expectations of meeting first quarter 2015 guidance as a result of not being able to close large customers and a continuing shift in the Company's customers using subscription services instead of perpetual licenses.
On April 22, 2015, MobileIron announced lower revenue guidance due in part to the inability to close large deals and a shift by customers to monthly subscription offerings. The Company also announced the resignation of its Chief Financial Officer.
Following this news, the price of MobileIron's stock declined by $2.39 per share, or over 25%, to close at $7.11 on April 23, 2015.
Request more information now by clicking here: www.faruqilaw.com/MOBL. There is no cost or obligation to you.
If you invested in MobileIron stock or options during the Class Period and would like to discuss your legal rights, visit www.faruqilaw.com/MOBL. 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 [email protected] Faruqi & Faruqi, LLP also encourages anyone with information regarding the Company's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
Logo - http://photos.prnewswire.com/prnh/20120119/MM38856LOGO
SOURCE Faruqi & Faruqi, LLP
Share this article