NEW YORK, March 10, 2014 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston filed the first and only Securities Exchange Act class action lawsuit in the United States District Court for the Northern District of California on behalf of purchasers of Envivio, Inc. ("Envivio" or the "Company") (Nasdaq:ENVI) securities between April 25, 2012 and September 6, 2012 (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934.
The Complaint alleges that during the Class Period the Company and certain of its executive officers issued a series of materially false and misleading statements and failed to disclose and misrepresented certain facts. Specifically, the Complaint alleges that during the Class Period, the Company misrepresented (i) the Company's historical revenue growth and (ii) the revenue from the Company's Americas segment. The Complaint alleges that when this adverse information became known, the value of the Company's stock lost more than half of its value.
If you wish to serve as lead plaintiff, you must move the Court no later than April 29, 2014. 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, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at firstname.lastname@example.org or email@example.com.
Source:Gainey McKenna& Egleston