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NEW YORK, April 12, 2016 -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Apigee Corporation (“Apigee” or the “Company”) (NASDAQ:APIC) pursuant or traceable to the Company’s April 24, 2015 initial public offering.
You are hereby notified that a securities action has been commenced in the Superior Court of the State of California, County of San Mateo. If you purchased or otherwise acquired Apigee securities pursuant to the initial public offering, your rights may be affected by this action. To get more information go to: http://zlk.9nl.com/apigee.
The complaint alleges that documents filed in connection with the IPO contained materially false and misleading statements and/or failed to disclose material information, including that, among other allegations: (a) increases in revenue in the fourth quarter of 2014 and second quarter of 2015 had been inflated due to non-recurring one-time deals recognized in those quarters; (b) Apigee touted the “increasing predictability” of its revenue growth despite direct competition from Amazon; and (c) lowered demand for Apigee’s product offerings was requiring the Company to scale back on its direct sales efforts and to focus on selling through channel partners.
If you suffered a loss in Apigee and would like additional information, contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/apigee.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation involving financial fraud, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
