Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Wednesday, May 6, 2015
Faruqi & Faurqi Law Alerts: MobileIron, Inc.
MOBILEIRON INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In MobileIron, Inc. To Contact The Firm - MOBL
Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in MobileIron, Inc. (“MobileIron” or the “Company”) (NASDAQ: MOBL) of the June 30, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against MobileIron and certain executives.
A complaint has been filed in the Northern District of California on behalf of all persons who purchased MobileIron securities from February 13, 2015 through April 22, 2015 (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, the Company made false and/or misleading statements and/or failed to disclose that MobileIron had unrealistic expectations of meeting first quarter 2015 guidance as a result of not being able to close large customers and a continuing shift in the Company’s customers using subscription services instead of perpetual licenses.
On April 22, 2015, MobileIron announced lower revenue guidance due in part to the inability to close large deals and a shift by customers to monthly subscription offerings. The Company also announced the resignation of its Chief Financial Officer.
Following this news, the price of MobileIron’s stock declined by $2.39 per share, or over 25%, to close at $7.11.
If you invested in MobileIron stock or options during the Class Period and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding the Company’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.