NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Apigee Corporation common stock (NASDAQ:APIC) pursuant to and/or traceable to Apigee’s April 24, 2015 initial public offering (the “IPO”). The lawsuit seeks to recover damages for Apigee investors under the federal securities laws.
To join the Apigee class action, go to the firm’s website at http://rosenlegal.com/cases-822.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, the documents filed in connection with the IPO contained materially false and misleading statements and/or failed to disclose that: (1) Apigee faced direct competition from Amazon; (2) Apigee’s 2Q 2105 revenues included an unusually large transaction from one customer who accounted for approximately 35% of that quarter’s revenues and was not repeating going forward; (3) lowered demand for Apigee’s product offerings required Apigee to scale back on its direct sales efforts and increase its efforts on selling through channel partners; and (4) as a result, Apigee was experiencing lowered billings. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to join the litigation, go to the firm’s website at http://rosenlegal.com/cases-822.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Attorney Advertising. Prior results do not guarantee a similar outcome.