An investigation for investors in NYSE:FIO shares over potential breaches of fiduciary duties by certain directors of Fusion-IO, Inc. was announced and NYSE:FIO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/26/2012 -- An investigation on behalf of investors in shares of Fusion-IO, Inc. (NYSE:FIO) was announced over potential breaches of fiduciary duties by certain officers and directors at Fusion-IO Inc. in connection with potentially false and misleading statements.
Investors who purchased 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 focuses on possible claims on behalf of purchasers of the securities of Fusion-IO, Inc.(NYSE:FIO) concerning whether a series of statements regarding Fusion-IO’s business, its prospects and its operations were materially false and misleading at the time they were made. Specifically, the investigation concerns whether certain directors and officers at Fusion-IO, Inc.(NYSE:FIO) breached their fiduciary duties owed to NYSE:FIO stockholders.
On January 24, 2012, after the market closed, Fusion-IO, Inc. reported its fiscal second quarter financial results. Despite that Fusion-IO, Inc. issued its Q3 2012 Revenue guidance and raised its Revenue FY 2012 guidance, it, among other things, also stated that “[n]on-GAAP gross margin for the fiscal second quarter 2012 was 51.1% compared to 58.8% for the same quarter of 2011” and reported a net loss of $5.7 million for the quarter. Additionally during the conference call also held on January 24, 2012, the Company reported that its second quarter gross margin of 51.1% was down from 63.3% in the prior quarter and that for the third fiscal quarter of 2012 “[n]on-GAAP gross margin is expected to be in the range of 50% “.
NYSE:FIO dropped from as high as $40.34 on November 17, 2011 to as low as $22.25 per share On February 1, 2012.
NYSE:FIO stocks closed on Friday, March 23, 2012 at $30.15 per share.
Those who purchased shares of Fusion-IO, Inc.(NYSE:FIO) a, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego