STOCK ALERT: Rosen Law Firm Reminds Extreme Networks, Inc. Investors of Important Deadline in Class Action
November 19 2015 - 2:05PM
Business Wire
Rosen Law Firm, a global investor rights law firm, reminds
purchasers of Extreme Networks, Inc. (NASDAQ:EXTR) securities from
November 4, 2013 through April 9, 2015, all dates inclusive (the
“Class Period”) of the important December 22, 2015 lead plaintiff
deadline in the class action. The lawsuit seeks to recover damages
Extreme Networks investors under the federal securities laws.
To join the Extreme Networks class action, go to the firm’s
website at http://www.rosenlegal.com/cases-779.html or call Phillip
Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email
pkim@rosenlegal.com or kchan@rosenlegal.com for information on the
class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants
issued materially false and misleading statements to investors
and/or failed to disclose that Extreme Networks had not
successfully or substantially integrated Enterasys, which
materially impaired its ability to address persistent problems with
delayed and canceled sales and costs related to inefficiently
processed orders. Additionally, Extreme Networks allegedly did not
disclose that Lenovo was unprepared or unwilling to begin selling
Extreme Networks' products during the timeframe or in the amounts
necessary to support Extreme Networks' financial forecasts.
On April 9, 2015, Extreme Networks announced that it would miss
guidance for the third quarter of 2015, trading in its shares had
been halted, and Extreme Networks’ Chief Revenue Officer was no
longer with Extreme Networks. On this news, Extreme Networks' stock
fell $0.74 per share, or nearly 25%, to close at $2.50 per share on
April 10, 2015.
A class action lawsuit has already been filed. If you wish to
serve as lead plaintiff, you must move the Court no later than
December 22, 2015. A lead plaintiff is a representative party
acting on behalf of other class members in directing the
litigation. If you wish to join the litigation, go to the firm’s
website at http://www.rosenlegal.com/cases-779.html or to discuss
your rights or interests regarding this class action, please
contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm
toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation. Attorney Advertising. Prior
results do not guarantee a similar outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20151119006502/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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