Rosen Law Firm, a global investor rights law firm, announces that a
class action lawsuit has been filed on behalf of purchasers of Extreme
Networks, Inc. (NASDAQ:EXTR) securities from November 4, 2013 through
April 9, 2015, all dates inclusive (the “Class Period”). The lawsuit
seeks to recover damages Extreme Networks investors under the federal
securities laws.
To join the Extreme Networks class action, go to the firm’s website at http://www.rosenlegal.com/cases-779.html
or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653
or email pkim@rosenlegal.com or kchan@rosenlegal.com
for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU
MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants issued
materially false and misleading statements to investors and/or failed to
disclose that Extreme Networks had not successfully or substantially
integrated Enterasys, which materially impaired its ability to address
persistent problems with delayed and canceled sales and costs related to
inefficiently processed orders. Additionally, Extreme Networks allegedly
did not disclose that Lenovo was unprepared or unwilling to begin
selling Extreme Networks' products during the timeframe or in the
amounts necessary to support Extreme Networks' financial forecasts.
On April 9, 2015, Extreme Networks announced that it would miss guidance
for the third quarter of 2015, trading in its shares had been halted,
and Extreme Networks’ Chief Revenue Officer was no longer with Extreme
Networks. On this news, Extreme Networks' stock fell $0.74 per share, or
nearly 25%, to close at $2.50 per share on April 10, 2015.
A class action lawsuit has already been filed. If you wish to serve as
lead plaintiff, you must move the Court no later than December 22, 2015.
A lead plaintiff is a representative party acting on behalf of other
class members in directing the litigation. If you wish to join the
litigation, go to the firm’s website at http://www.rosenlegal.com/cases-779.html
or to discuss your rights or interests regarding this class action,
please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm
toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com
or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation.
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