Faruqi & Faruqi, LLP is Investigating Infoblox Inc. (BLOX) on Behalf of its Shareholders
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential wrongdoing at Infoblox Inc. (“Infoblox” or the “Company”) (NYSE: BLOX).
The investigation focuses on whether the Company and its officers breached their fiduciary duties by causing or allowing Infoblox to engage in improper accounting and revenue recognition. The investigation seeks to determine whether (1) the Company, unknown to investors, employed heavy discounting to retain its market share; and (2) Infoblox was not closing on larger deals that were expected to contribute significantly to revenue growth.
On May 29, 2014, Infoblox revealed a net loss of $7.4 million for the third quarter of fiscal 2014. That same day, Infoblox announced that Robert D. Thomas was stepping down as the Company’s president and chief executive officer. Following this news, the price of Infoblox shares plummeted by $7.56 per share, or nearly 37%, to close on May 30, 2014, at $12.96 per share.
If you currently own Infoblox stock and have continuously owned Infoblox stock since at least September 5, 2013, and would like to discuss your legal rights, please contact us by calling Stuart Guber toll free at (215) 277-5770 or by sending an e-mail to email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Infoblox’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Stuart J. Guber
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.