NEW ORLEANS, April 27, 2015 /PRNewswire/ -- Former Attorney
General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law
firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has
commenced an investigation into MobileIron, Inc. (NasdaqGS:
MOBL).
On April 22, 2015, MobileIron
announced its first quarter 2015 preliminary results, revealing
that the Company expects to report revenue of $32-33 million, below its previous guidance of
$34-$37 million and analysts'
expectations of $36.26 million, and
gross billings of $35.5-$37 million,
below its previous guidance of $40-$42
million. The Company stated that, "Near the end of the
quarter, we witnessed multiple large deals from North American
customers that did not close as expected. Further, we saw a large
shift by customers to our monthly subscription offering, which
resulted in lower billings and revenue." MobileIron also announced
that its Chief Financial Officer will be resigning.
On this news, the price of MobileIron's shares plummeted by over
25% and the Company was downgraded.
KSF's investigation is focusing on whether MobileIron and/or its
officers and directors violated state or federal securities
laws.
If you are a MobileIron shareholder who purchased your shares
pursuant or traceable to the Company's initial public offering on
June 12, 2014 and has suffered losses
related to your investment or have information that would assist
KSF in its investigation, you may, without obligation or cost to
you, call toll-free at 1-877-515-1850 or email KSF Managing Partner
Lewis Kahn (lewis.kahn@ksfcounsel.com).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a
law firm focused on securities class action and shareholder
derivative litigation with offices in New
York, California and
Louisiana. KSF's lawyers have
significant experience litigating complex securities class actions
nationwide on behalf of both institutional and individual
shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC