NEW ORLEANS, May 30, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 29, 2014 to file lead plaintiff applications in a securities class action lawsuit against Infoblox, Inc. (NYSE:BLOX), if they purchased the Company's securities during the period between September 6, 2013 to February 10, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Infoblox and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 29, 2014.
About the Lawsuit
Infoblox and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On February 10, 2014, Infoblox provided its preliminary second quarter 2014 results, predicting revenue of $60-61 million versus previous guidance of $65-66 million, and updated its outlook for 2014, predicting revenue of $250-254 million versus previous guidance of $270-276 million. Infoblox further disclosed that it had been "discounting enormously to get deals." While defendants were previously falsely touting Infoblox's financial strength, Infoblox insiders sold $21.25 million of their personal holdings of Infoblox common stock.
On this news, the price of Infoblox's shares plummeted by over 48%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.