NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 30, 2019 to file lead plaintiff applications in a securities class action lawsuit against Carbonite, Inc. (NasdaqGM: CARB), if they purchased the Company’s shares between February 7, 2019 and July 25, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Massachusetts.
What You May Do
If you purchased shares of Carbonite and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgm-carb/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 30, 2019.
About the Lawsuit
Carbonite and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 25, 2019, the Company disclosed that it was pulling its premier “Server Backup VM Edition” software product from the marketplace, significantly reducing its financial projections for fiscal 2019 and 2020, and that its CEO had resigned.
On this news, the price of Carbonite’s shares plummeted nearly 25%, wiping out over $200 million in market capitalization.
The case is Luna v. Carbonite, Inc. et al., 1:19-cv-11662.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.