NEW YORK, May 30, 2014 (GLOBE NEWSWIRE) -- The law firm Gardy & Notis, LLP has filed a securities fraud class action lawsuit on behalf of purchasers of Infoblox, Inc. (NYSE:BLOX) common stock during a class period of September 6, 2013 to February 10, 2014. The lawsuit was filed in the United States District Court for the Northern District of California, and names Infoblox, Inc., Robert Thomas (Chief Executive Officer), and Remo Canessa (Chief Financial Officer) as defendants.
The lawsuit alleges that defendants falsely lauded Infoblox as a financially successful company, repeatedly emphasizing the company's strong revenues and proclaiming that the company was entering "fiscal 2014 with significant momentum and expect[ed]  to be another year of strong execution," when, in fact, Infoblox had secretly implemented enormous discounting in order to maintain market share, and was failing to close on big-ticket deals that had previously driven its revenue growth. While defendants were falsely touting Infoblox's financial strength, Infoblox insiders sold $21.25 million of their personal holdings of Infoblox common stock.
If you purchased Infoblox, Inc. (BLOX) common stock between September 6, 2013 and February 10, 2014, you may, no later than July 29, 2014, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation, and you must meet certain legal requirements to serve as a lead plaintiff.
To learn more about the lawsuit, or to obtain a copy of the complaint, please contact plaintiff's counsel, Mark C. Gardy at Gardy & Notis, LLP, Tower 56, 126 East 56th Street, New York, NY 10022, Telephone: 212-905-0509, Fax: 212-905-0508, email: firstname.lastname@example.org.
CONTACT: Mark C. Gardy GARDY & NOTIS, LLP Tower 56 126 East 56th Street New York, NY 10022 Tel: 212-905-0509 Fax: 212-905-0508 E-mail: email@example.com Website: www.gardylaw.comSource:Gardy & Notis, LLP