STEVENSON, Md., March 21, 2014 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Envivio, Inc. ("Envivio" or the "Company") (Nasdaq:ENVI) common stock during the period between April 25, 2012 and September 6, 2012, inclusive (the "Class Period").
If you have suffered a net loss from investment in Envivio, Inc. common stock purchased on or after April 25, 2012 and held through the revelation of negative information on August 13, 2012 and/or September 6, 2012, as described below, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or financial obligation, click here: http://www.browerpiven.com/securitiesfraudcases.html.
You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than April 29, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period the Company's true historical revenue growth and revenue from the Company's Americas segment. According to the complaint, following the Company's August 13, 2012 announcement lowering revenue guidance and the Company's September 6, 2012 announcement of declining revenue, the value of Envivio shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.