LOS ANGELES, March 24, 2017 (GLOBE NEWSWIRE) -- Lundin Law PC, a shareholder rights firm announces a class action lawsuit against Gigamon Inc. ("Gigamon" or the "Company") (NYSE:GIMO). Investors who purchased or otherwise acquired Gigamon shares between October 27, 2016 and January 17, 2017 inclusive (the “Class Period”), are encouraged to contact the firm in advance of the March 28, 2017 lead plaintiff deadline.
To participate in this class action lawsuit, please click here, or call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The investigation is centered on whether Gigamon and some of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Gigamon is involved with products and services that provide customers visibility and power over network traffic for corporations and service providers in the United States, as well as various international locations.
On January 18, 2017, Gigamon announced early fourth quarter and fiscal year 2016 results. In the report, Gigamon revealed that fourth quarter revenue for the period ending December 31, 2016 would be significantly less compared to the guidance last year.
The Company claimed fourth quarter revenue fell short because of “lower than expected product booking” as well as the decision of existing customers to hold “purchasing decisions into 2017.” When this information was revealed to the public, the value of Gigamon stock fell over 28%, causing investors serious harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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