LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Gigamon Inc. (“Gigamon” or the “Company”) (NYSE: GIMO). Investors who purchased or otherwise acquired shares between October 27, 2016 and January 17, 2017 inclusive (the “Class Period”) are encouraged to contact the firm in advance of the March 28, 2017 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The complaint alleges that throughout the Class Period, Gigamon made materially false and misleading statements and/or failed to disclose: that Gigamon was experiencing reduced product bookings in its North America West region; that several of the Company’s significant customers were deferring purchasing decisions into 2017; that Gigamon failed to properly include these trends in its financial guidance; and that as a result of the above, the Company’s statements about its business, operations, and prospects, including statements about its revenue guidance, were false and misleading and/or lacked a reasonable basis. On January 17, 2017, Gigamon revealed early fourth quarter and fiscal year 2016 results. In the report, Gigamon revealed that fourth quarter revenue for the period ending December 31, 2016 would be significantly less compared to the guidance last year. The Company alleges fourth quarter revenue fell short because of “lower than expected product booking” as well as the decision of existing customers to hold “purchasing decisions into 2017.” When this information was revealed to the investing public, the value of Gigamon shares declined, causing investors severe harm.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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