Wolf Haldenstein Adler Freeman & Herz LLP Commences a Class Action Lawsuit on Behalf of FireEye , Inc. Investors in the Northern District of California -- FEYE


NEW YORK and SAN DIEGO, Nov. 25, 2014 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that it has filed a class action lawsuit in the United States District Court for the Northern District of California, on behalf of all persons who purchased or otherwise acquired common stock of FireEye, Inc. ("FireEye" or the "Company") (Nasdaq:FEYE) between January 2, 2014 through November 4, 2014, inclusive (the "Class Period"), against the Company and certain of the Company's officers and directors ("Defendants"), alleging securities fraud pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder.

The litigation is styled Collins v. FireEye, Inc. et al, 14-cv-05204. A copy of the Complaint filed in this action is available from the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP website at www.whafh.com.

On May 6, 2014, FireEye announced its first quarter results, surprising investors and analysts. The Company's $24.3 million in product revenue fell meaningfully short of analysts' estimates of $31 million and reflected a move away from FireEye's organic software business and towards service-oriented offerings which lacked the same potential for profitability. In reaction to these disclosures, FireEye closed at $28.65, down $8.48 per share. This 23% decline represented a market capitalization loss of over $1.25 billion.

The Company's stock continued its precipitous decline, plummeting to close at a low of $25.76 on October 10, 2014, down 73.1% from its Class Period high of $95.63 on March 5, 2014. Notwithstanding the Company's declining product revenue and the marked turn away from its organic software business, Defendants continuously touted FireEye's organic and acquired growth as reasons for optimism and promising future results. Finally, on November 4, 2014, after the market closed for trading, the Company released disappointing third quarter results that missed analysts' expectations, and further revealed the Company's virtual abandonment of its core software product business model, resulting in a quarterly loss of $0.51 per share.

If you purchased FireEye common stock during the Class Period either in the open market and/or pursuant to the Secondary Public Offering (SPO) on March 6, 2014, please call Wolf Haldenstein immediately.

You may move to be appointed as lead plaintiff by January 26, 2015.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as "lead plaintiff."  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to "FireEye litigation."



            

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