NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Carbonite, Inc. (“Carbonite” or the “Company”) (NASDAQ: CARB). This investigation concerns whether Carbonite has violated federal securities laws and/or engaged in other unlawful business practices.
On July 25, 2019, after the market closed, the Company reported revenue of $121.5 million for second quarter 2019 due to “challenges in parts of [its] data protection business.” Moreover, the Company reduced its full year revenue guidance from a range of $457 to $471 million, to a range of $443.5 to $448.5 million. The Company’s Chief Executive Officer, Mohamad Ali, resigned. On this news, shares of Carbonite fell $5.89, or 24.6%, to close at $18.01 on July 26, 2019.
If you acquired Carbonite securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
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