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Robbins Arroyo LLP: Gigamon Inc. (GIMO) Misled Shareholders According to a Recently Filed Class ActionShareholder rights law firm Robbins Arroyo LLP announces that a class action complaint was filed against Gigamon (News - Alert) Inc. (NYSE: GIMO) in the U.S. District Court for the Northern District of California. The complaint is brought on behalf of all purchasers of Gigamon securities between October 27, 2016 and January 17, 2017, for alleged violations of the Securities Exchange Act of 1934 by Gigamon's officers and directors. Gigamon designs, develops, and sells products and services that provide customers with visibility and control of network traffic for enterprises and services providers in the United States, the rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific. View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/gigamon-inc Gigamon Accused of Issuing Inaccurate Financial Guidance /p>
On January 17, 2017, Gigamon issued a press release revealing disappointing fourth quarter 2016 financial results, including revenue of only $84 million to $85 million, much lower than the company's previously reported guidance. Gigamon attributed the declining revenue to lower than expected product bookings in its North America West region, since several significant existing customer accounts deferred purchasing decisions into 2017. On this news, Gigamon's stock fell $12.65 per share, or nearly 29%, to close at $31.40 per share on January 18, 2017. Gigamon Shareholders Have Legal Options Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website. Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170131006226/en/ |