An investigation for current long-term investors in shares of Fusion-IO, Inc. (NYSE:FIO) over potential wrongdoing by certain officers and directors of Fusion-IO, Inc. was announced and NYSE:FIO stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 09/04/2013 -- An investigation on behalf of current long-term stockholders of shares of Fusion-IO, Inc. (NYSE:FIO) was announced concerning whether certain Fusion-IO officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholder of shares of Fusion-IO, Inc. (NYSE:FIO), 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 concerns whether certain Fusion-IO officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Fusion-IO, Inc. reported that its Total Revenue rose from $197.20 million for the 12 months period that ended on June 30, 2011 to $359.35 million for the 12 months period that ended on June 30, 2012. However, over the same time periods its Net Income declined from $4.55 million to a Net Loss of $5.58 million.
Shares of Fusion-IO, Inc. grew in October 2012 to as high as over $32 per share.
Then on May 8, 2013, Fusion-IO, Inc. announced management changes. Fusion-IO, Inc. said its CEO and President resigned and was replaced effective immediately.
Shares of Fusion-IO, Inc. (NYSE:FIO) declined from $18.08 per share on May 7, 2013, to $13.21 per share on May 8, 2013.
Then on August 7, 2013, Fusion-IO, Inc. (NYSE:FIO) reported its fourth quarter and fiscal year 2013 results. Fusion-IO’s Total Revenue increased from $197.20 million for the 12 months period that ended on June 30, 2011 to $432.39 million for the 12 months period that ended on June 30, 2013, while its Net Income of $4.55 million for the 12 months period that ended on June 30, 2011 declined to a Net Loss of $38.23 million for the 12 months period that ended on June 30, 2013.
Shares of Fusion-IO, Inc. (NYSE:FIO) declined from $15.46 per share on August 7, 2013, to $10.395 per share on August 21, 2013.
On September 3, 2013, NYSE:FIO shares closed at $10.58 per share.
Those who purchased shares of Fusion-IO, Inc. (NYSE:FIO), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Jacob Rosefenld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com