San Diego, CA -- (SBWIRE) -- 01/30/2012 -- The Shareholders Foundation announces that an investor in shares of IntraLinks Holdings, Inc. (NYSE:IL) filed a lawsuit in United States District Court for the Southern District of New York against IntraLinks over alleged Violations of Federal Securities Laws in connection with certain of its financial statements.
Investors who purchased shares of IntraLinks Holdings (NYSE:IL) including but not limited to those who purchased NYSE IL shares between February 17, 2011 and November 10, 2011, have certain options should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges that IntraLinks Holdings and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between February 17, 2011 and November 10, 2011, materially false and misleading statements regarding IntraLinks Holdings’ business and prospects. Specifically, so the lawsuit, defendants misrepresented and/or failed to disclose that IntraLinks Holdings was experiencing a slowdown in its Enterprise business segment.
On May 11, 2011, IntraLinks Holdings, Inc announced its financial results for the first quarter of 2011, announcing the reduction of its full year 2011 income projections from $21-$23 million to $17-$19 million. On August 10, 2011, I IntraLinks Holdings, Inc issued a press release announcing its financial results for the second quarter of 2011.
Then on November 8, 2011, IntraLinks Holdings, Inc. (NYSE:IL) announced its results for its third quarter of 2011. Among other things, IntraLinks Holdings issued also its fourth quarter 2011 guidance which is below analysts' estimates.
Since April NYSE IL shares fell to recently roughly $5 per share. In fact, NYSE IL stocks dropped from $8.79 per share on November 8th to as low as $4.80 on Nov. 10, 2011
Those who purchased shares of IntraLinks Holdings (NYSE:IL) including but not limited to those who purchased NYSE IL shares between February 17, 2011 and November 10, 2011, have certain options should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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