SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Silver Spring Networks, Inc. (NYSE: SSNI) and certain of its officers. Silver Spring Networks provides networking platforms and solutions that enable utilities to transform the power grid infrastructure into the smart grid.
Specifically, Johnson & Weaver’s investigation seeks to determine whether certain statements regarding Silver Spring Networks’ business and prospects were false and misleading when made.
On March 13, 2013, Silver Spring Networks’ stock opened for trading at $22.00. That day the Company sold 4.75 million shares of stock in its initial public stock offering (the “IPO”). However, since the IPO, the Company stock has traded from a high of $33.82 on August 5, 2013 to $9.75 in mid-day trading on May 7, 2014.
“In its IPO, Silver Spring Networks raised $81 million in new capital,” said James Baker, lead analyst for Johnson & Weaver. “The stock price has been in a downward spiral since August and insiders have been aggressively selling shares. We will be investigating whether investors were misled about the value of their investment in the Company.”
If you are a Silver Spring Networks shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) at 619-814-4471. If you email, please include your phone number.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.