Extreme Networks, Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor Investigate Possible Breaches of...
November 20 2015 - 1:22PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the
securities litigation firm of Powers Taylor LLP announce that a
federal class action lawsuit has been filed against Extreme
Networks, Inc. (“Extreme Networks” or “Company”) (NasdaqGS: EXTR)
and several officers and directors for acts taken during the period
of November 4, 2013 to April 9, 2015 (the “Class Period”).
If you are an affected Extreme Networks shareholder and want to
learn more about the lawsuit or join the action, contact Willie
Briscoe at The Briscoe Law Firm, PLLC via email at
shareholders@thebriscoelawfirm.com, Patrick Powers at Powers Taylor
LLP via email at shareholder@powerstaylor.com, or call toll free at
(877) 728-9607. There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated
certain provisions of the Securities Exchange Act of 1934.
Specifically, the complaint alleges, among other things, that
defendants misrepresented and/or failed to disclose that the
Company’s revenue growth depended on the successful integration of
Enterasys Networks, Inc., which Extreme Networks had acquired in
2013 but had not successfully integrated, which materially impaired
the Company’s ability to address persisting sales problems. The
complaint also alleges that Extreme Networks failed to disclose
that it did not have sufficient visibility into server business
plans of Lenovo, with which the Company had an alliance, to support
the Company’s quarterly and fiscal 2015 financial forecasts.
Extreme Networks announced on April 9, 2015 that it would miss its
guidance for the third quarter of 2015, that trading in its shares
had been halted and that its Chief Revenue Officer was no longer
with the company. When the truth emerged the Company’s stock
declined significantly.
The Briscoe Law Firm, PLLC is a full service business
litigation, commercial transaction, and public advocacy firm with
more than 20 years of experience in complex litigation and
transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151120005837/en/
The Briscoe Law Firm, PLLCWillie Briscoe,
877-728-9607shareholders@thebriscoelawfirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com
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