San Diego, CA -- (SBWIRE) -- 08/28/2012 -- An investigation on behalf of investors of Envivio Inc (NASDAQ:ENVI) shares over potential securities laws violations by Envivio Inc and certain of its directors and in connection with certain financial statements was announced.
Investors who purchased shares of Envivio Inc (NASDAQ:ENVI), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Envivio Inc (NASDAQ:ENVI) concerning whether a series of statements by Envivio Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Envivio Inc (NASDAQ:ENVI) reported that its Total Revenue rose from $16.29 million for the 12 months period that ended on Jan. 31, 2010, to $50.65 million for the 12 months period that ended on Jan. 31, 2012, and that its Net Loss of $9.18 million for the the 12 months period that ended on Jan. 31, 2010, turned into a Net Income of $0.14 million for the 12 months period that ended on Jan. 31, 2012.
Shares of Envivio Inc (NASDAQ:ENVI) traded in late April 2012 as high as $9.25 per share.
Then on, August 13, 2012, Envivio (NASDAQ: ENVI) announced that it expects revenue for the quarter ending July 31, 2012 to be in the range of $10 million to $11 million, as compared to its previous guidance of $17 million to $18 million.
Envivio Inc president and CEO said that its “preliminary revenue results reflect a general slowdown in spending by [its] service provider customers, in particular in North America and Western Europe, which have been two key growth areas of the Company in the last two years.”
Julien Signès, president and CEO of Envivio, further said that Envivio “experienced a slowdown of major project implementations and a lengthening of sales cycles, which we attribute to the current global economic environment. We are disappointed in these results and are conducting a full review of our operations.”
Shares of Envivio Inc (NASDAQ:ENVI) declined from $6.34 per share on August 6, 2012, to $2.48 per share on August 14, 2012.
On August 27, 2012, NASDAQ:ENVI shares closed at $2.52 per share, significantly below its current 52 week High of $9.52 per share.
Those who purchased shares of Envivio Inc (NASDAQ:ENVI) and currently hold those Envivio Inc shares, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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