Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against FireEye, Inc.

Jan 07, 2015, 16:16 ET from Rigrodsky & Long, P.A.

WILMINGTON, Del., Jan. 7, 2015 /PRNewswire/ -- Rigrodsky & Long, P.A.:

  • Do you, or did you, own shares of FireEye, Inc. (NASDAQ GS: FEYE)?
  • Did you purchase your shares before January 2, 2014, or between January 2, 2014 and November 4, 2014, inclusive?
  • Did you lose money in your investment in FireEye, Inc.?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities that purchased the common stock of FireEye, Inc. ("FireEye" or the "Company") (NASDAQ GS: FEYE) between January 2, 2014 and November 4, 2014, inclusive (the "Class Period"), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the "Complaint").

If you purchased shares of FireEye during the Class Period, or purchased shares prior to the Class Period and still hold FireEye, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://www.rigrodskylong.com/investigations/fireeye-inc-feye.

FireEye provides a comprehensive solution of products and services for detecting, preventing and resolving advanced cybersecurity threats.  The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects.  Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) the Company's business model had radically changed from that of a software company with high fixed costs but low marginal costs that would not escalate with increases in subscriber base, to an end-to-end service provider; (2) that the Company's secret strategy would require highly trained professional staff to respond to network security breaches, their number increasing with the customer base; and (3) the Company's costs would therefore escalate incrementally with an increased customer base so that the Company's future profitability was in serious doubt.  As a result of defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period. 

According to the Complaint, on November 4, 2014, the Company issued a press release announcing its 2014 third fiscal quarter financial results.  The Company's third quarter revenue of $114.2 million came in at the low end of the Company's own previously issued guidance range of $114 to $117 million, and missed Wall Street consensus estimates of $116.02 million.

On this news, shares in FireEye plummeted almost 15%, closing at $29.12 per share on November 5, 2014, on high trading volume.         

If you wish to serve as lead plaintiff, you must move the Court no later than January 26, 2015.  A lead plaintiff is a representative party acting 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.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.


Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Peter Allocco
(888) 969-4242
(516) 683-3516
Fax: (302) 654-7530


SOURCE Rigrodsky & Long, P.A.