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SAN FRANCISCO, Feb. 06, 2017 -- Hagens Berman Sobol Shapiro LLP alerts investors in Gigamon, Inc. (NYSE:GIMO) to the securities class action lawsuit filed in the U.S. District Court for the Northern District of California and the March 28, 2017 Lead Plaintiff deadline.
If you purchased or otherwise acquired securities of GIMO between October 27, 2016 and January 17, 2017 and suffered over $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/GIMO
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
On January 17, 2017, Defendants disclosed the Company’s preliminary fourth quarter and fiscal 2016 financial results. GIMO currently expects fourth quarter 2016 revenues of $84.5 million to $85 million, as compared to revenue guidance given on October 27, 2016 of $91 million to $93 million.
In response, the price of GIMO shares fell over 28% to close at $31.40 per share on January 18, 2017.
SEC filings show that the Company’s Chief Executive Officer sold approximately $2.8 million of his shares during the interim between the October 27, 2016 guidance and the January 17, 2017 announcement.
“We’re evaluating when the matters impacting the January disclosures were known to management relative to the original revenue guidance and interim insider selling,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding GIMO should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
