NEW YORK, July 4, 2014 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Infoblox Inc. ("Infoblox" or the "Company") (NYSE:BLOX) of the July 29, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Infoblox and certain executives.
A complaint has been filed in the Northern District of California on behalf of all persons who purchased Infoblox securities between September 5, 2013 and May 29, 2014, inclusive (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that throughout the Class Period, the Company and its executives violated federal securities laws by failing to disclose that: (i) the Company employed heavy discounting to retain market share; and (ii) Infoblox was not closing on larger deals that had contributed significantly to its revenue growth.
On May 29, 2014, Infoblox revealed a net loss of $7.4 million for the third quarter of fiscal 2014. That same day, Infoblox announced that Robert D. Thomas was stepping down as the Company's president and chief executive officer.
Following this news, the price of Infoblox shares plummeted by $7.56 per share, or nearly 37%, to close on May 30, 2014, at $12.96 per share.
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Take Action
If you invested in Infoblox stock or options between September 5, 2013 and May 29, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/BLOX. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Infoblox's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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