NEW YORK, April 28, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Silicon Graphics International Corp. ("Silicon Graphics" or the "Company") (NASDAQ: SGI). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 237.
The investigation concerns whether Silicon Graphics and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On January 27, 2016, Silicon Graphics reiterated its revenue outlook for fiscal year 2016 in the range of $600 to $625 million. Then, on April 27, 2016, Silicon Graphics lowered its revenue outlook for fiscal year 2016, citing delays in the Company's federal business. In a press release issued by the Company, Silicon Graphics' President and Chief Executive Officer, Jorge Titinger, suggested that the delays in federal business "are significantly impacting" the Company's outlook for fiscal year 2016.
On this news, Silicon Graphics stock fell $2.39, or 34.19%, to close at $4.60 on April 28, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP