SAN DIEGO, Jan. 14, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline to get actively involved is coming up on January 21, 2014 in the lawsuit filed on behalf of certain investors in shares Fusion-IO, Inc. (FIO) over alleged Securities Laws Violations by Fusion-IO, Inc. in connection with certain allegedly false and misleading statements made between August 10, 2012 and October 23, 2013.
If you purchased a significant amount of shares of Fusion-IO, Inc. (FIO) between August 10, 2012 and October 23, 2013, you have certain options and you should contact the Shareholders Foundation before January 21, 2014 at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants misrepresented to investors that Fusion-IO, Inc. was a market leader in large-scale flash memory applications and was not facing any competitive pressure or risk from the commoditization of flash memory products, that defendants also issued positive revenue guidance and misrepresented that Fusion-IO, Inc. was able to anticipate the demand from its strategic customers based on its years of experience as their flash memory supplier, and that as a result of defendants' statements and omissions, Fusion-IO's securities traded at artificially inflated prices between August 10, 2012 and October 23, 2013.
On October 23, 2013, Fusion-IO, Inc. reported its fiscal first quarter 2014 results and revised its business outlook for 2014. Among other things, the Company also announced the departure of its Chief Financial Officer and Chief Sales Office. Shares of Fusion-IO, Inc. declined from $14.17 per share on October 21, 2013, to $9.40 per share on October 25, 2013.
The plaintiff seeks to recover damages on behalf of all purchasers of Fusion-IO, Inc. common stock between August 10, 2012 and October 23, 2013.
Those who purchased shares of Fusion-IO, Inc. have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.