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Gigamon Inc. (GIMO)

NYSE:GIMO

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Gigamon Inc.  To Contact The Firm Before Lead Plaintiff Deadline

NEW YORK, January 30, 2017 / Globenewswire/ --  Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Gigamon Inc.  (“Gigamon” or the “Company”) (NYSE:GIMO) of the March 28, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Gigamon securities between October 27, 2016 and January 17, 2017 (the “Class Period”).  The case, Rodriguez v. Gigamon Inc. et al, No. 3:17-cv-00434 was filed on January 27, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making materially false and/or misleading statements and/or failing to disclose that: (1) Gigamon was suffering from reduced product bookings in its North America West region; (2) several of Gigamon’s significant customer accounts deferred purchasing decisions into 2017; (3) Gigamon failed to properly include these trends in its financial guidance; and (4) as a result, Gigamon’s statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis.

Specifically, on January 17, 2017, the Company announced its financial results for the fourth quarter and fiscal year 2016. The Company revealed preliminary fourth quarter 2016 revenue of $84.5 million to $85.0 million, lower than the Company’s prior guidance of $91 million to $93 million. The Company’s Chief Executive Officer, Paul Hooper, stated that “fourth quarter revenue was below our prior guidance” and that “[f]ourth quarter revenue fell short primarily due to lower than expected product bookings in our North America West region, as several significant existing customer accounts deferred purchasing decisions into 2017.”

On this news, Gigamon’s share price fell from $44.05 on January 17, 2017 to a closing price of $31.40 on January 18, 2017 —a $12.65 or a 28.72% drop.

Take Action

If you invested in Gigamon common stock or options between October 27, 2016 and January 17, 2017 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Gigamon’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Gigamon Inc. (GIMO)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/30/2017

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