NEW YORK, April 24, 2014 (GLOBE NEWSWIRE) -- On February 28, 2014, Scott+Scott, Attorneys at Law, LLP filed a class action complaint against Envivio, Inc. ("Envivio" or the "Company") in the U.S. District Court for the Northern District of California. The complaint was filed on behalf of persons and entities who purchased or otherwise acquired Envivio securities (Nasdaq:ENVI) between April 25, 2012 and September 6, 2012 and seeks remedies under the Securities Exchange Act of 1934.
Please note that the deadline for investors to move for lead plaintiff is no later than April 29, 2014. Members of the investor class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain absent class members in the lawsuit.
The class action complaint alleges that during the Class Period, Envivio and certain of its executive officers failed to disclose material information regarding the Company's revenue growth. When this adverse information became known, the complaint alleges, the Company's stock lost more than half of its value.
If you wish to view the complaint, discuss the Envivio litigation, or have questions concerning this notice or your rights, please contact Michael Burnett of Scott+Scott (mburnett@scott-scott.com, (800) 404-7770, (860) 537-5537) or visit the Scott+Scott website for more information: http://www.scott-scott.com.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.