LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP, representing investors of Infoblox, Inc. (“Infoblox” or the “Company”) (NYSE:BLOX), has filed a class action lawsuit in the United States District Court for the Northern District of California on behalf of a class (the “Class”) comprising all purchasers of Infoblox securities between September 5, 2013 and May 29, 2014, inclusive (the “Class Period”).
Please contact Glancy Binkow & Goldberg LLP, toll-free at (888) 773-9224 or at (212) 682-5340, or by email to firstname.lastname@example.org to discuss this matter.
Infoblox develops, markets and sells automated network control solutions worldwide. The Company provides enterprise and service provider-class solutions to automate management of network infrastructure services. The Complaint alleges that defendants misrepresented and/or failed to disclose material adverse facts about the Company’s business, operations and prospects, including that the Company was discounting heavily to attract business, and the Company’s revenue projections were overstated. As a result, defendants’ positive statements throughout the Class Period about the Company’s business, operations and prospects were false and misleading and/or lacked a reasonable basis.
On May 29, 2014, Infoblox announced a net loss of $7.4 million, or $0.14 per fully diluted share, for the third quarter of fiscal 2014, compared with a net loss of $0.3 million, or $0.01 per fully diluted share, for the third quarter of fiscal 2013. That same day, Infoblox announced that Robert D. Thomas was stepping down as the Company’s president and chief executive officer. Following this news, the price of Infoblox shares declined $7.56 per share, or nearly 37%, to close on May 30, 2014, at $12.96 per share, on unusually heavy volume.
If you are a member of the Class described above, you may move the Court no later than July 29, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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