A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Violin Memory Inc (NYSE:VMEM) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on August 5, 2016 and NYSE:VMEM investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/29/2016 -- A deadline is coming up on August 5, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Violin Memory Inc (NYSE:VMEM) between September 27, 2013 and November 21, 2013.
Investors who purchased a significant amount of shares of Violin Memory Inc (NYSE:VMEM) between September 27, 2013 and November 21, 2013, have certain options and should contact the Shareholders Foundation by email at firstname.lastname@example.org or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Violin Memory Inc (NYSE:VMEM) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/violin-memory-inc-nyse-vmem-investor-securities-class-action-lawsuit-11262013
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is August 5, 2016. The class action administrator for this case is RG/2 Claims Administration LLC.
The lawsuit was originally filed in the U.S. District Court for the Northern District of California against Violin Memory Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between September 27, 2013 and November 26, 2013.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased the common stock of Violin Memory Inc pursuant and/or traceable to Violin Memory Inc's September 26, 2013 IPO, that Violin Memory Inc, certain of its executive officers and directors, and underwriters of the IPO violated federal securities laws.
The plaintiff alleges that the prospectus and registration statement issued in connection with Violin Memory Inc's IPO were allegedly false and misleading because they failed to disclose that Violin Memory Inc was being negatively impacted by known trends affecting its sales and revenues. More specifically, the plaintiff claims that Violin Memory Inc allegedly failed to disclose that, prior to the IPO, Violin Memory Inc's sales and revenues were being negatively impacted by the reprioritization of federal agencies' budgets due to the uncertainty surrounding the negotiations over the federal budget and the possibility of a shutdown of the federal government.
Those who purchased shares of Violin Memory Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego