BALA CYNWYD, Pa., Jan. 9, 2013 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
Envivio, Inc. ("Envivio" or the "Company") (Nasdaq- ENVI) for an
allegedly false and misleading Registration Statement issued in
connection with its April 24, 2012
initial public offering ("IPO").
On August 13, 2012, the Company
issued a press release announcing that it expected revenues in the
range of $10-$11 million as opposed
to its previously issued guidance of $17-$18
million for the quarter ending July
31, 2012. On this news, Envivio's stock declined more than
56%, which represents a decline of more than 72% since the IPO.
A class action lawsuit commenced in the United States District
Court for the Northern District of California alleges that the Registration
Statement and Prospectus for the IPO failed to advise that
Envivio's largest customers were not increasing their demand for
Envivio's services, Envivio was losing deals to Harmonic Inc's
video processing technologies, the Company was experiencing a
severe lengthening in its sales cycle, and its business was not
growing as fast as represented.
If you purchased shares of Envivio stock in or traceable to the
IPO and wish to discuss the investigation, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L.
Brodsky, Esquire or Evan J. Smith,
Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by
e-mail at investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/527-envi-envivios-inc.html, or by calling
toll free 877-LEGAL-90. If you choose to retain counsel, you may
retain Brodsky & Smith, LLC without financial obligation to
you, or you may retain other counsel of your choice.
This press release may be considered Attorney Advertising in
some jurisdictions.
SOURCE Brodsky & Smith, LLC