|[February 08, 2013]
Glancy Binkow & Goldberg LLP Announces Investigation of Mellanox Technologies, Ltd.
LOS ANGELES --(Business Wire)--
Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims on behalf of purchasers of the common stock of Mellanox (News - Alert)
Technologies, Ltd. ("Mellanox" or the "Company") (NASDAQ:MLNX)
concerning possible violations of federal securities laws. The
investigation focuses on allegations that certain statements issued by
Mellanox between April 19, 2012 and January 2, 2013 concerning the
Company's financial performance and prospects were false and misleading.
Mellanox produces and supplies high-performance interconnect products
that facilitate efficient data transmission between servers, storage
systems and communications infrastructure equipment and other embedded
systems. The Company's interconnect products, include adapter, gateway
and switch ICs, adapter cards, switch systems, gateway systems and
software. The investigation is related to Mellanox's January 2, 2013
announcement lowering the Company's fourth quarter 2012 revenue
guidance. Citing " weaker demand environment, challenging macroeconomic
conditions, and a technical issue associated with FDR 56Gb/s InfiniBand
cabling which caused approximately $20 million of FDR deployments to be
delayed" the Company revised its fourth quarter financial outlook to a
range of $119 million to $121 million, sharply below the Company's
previous guidance of $145 million to $150 million.
As a result of this news, the Company's stock price dropped more than
17%, or $10.46 per share, to a closing price of $50.70 per share on
January 3, 2013 on heavy volume of more than 8.2 million shares traded.
If you purchased Mellanox common stock between April 19, 2012 and
January 2, 2013, if you have information or would like to learn
more about these claims, or if you wish to discuss these matters 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, by telephone at (310)
201-9150, Toll Free at (888) 773-9224, by e-mail to email@example.com,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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