NEW YORK, Nov. 17, 2015 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Extreme Networks, Inc. (“Extreme Networks”) (Nasdaq:EXTR) between November 4, 2013 and April 9, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Northern District of California. If you purchased or otherwise acquired Extreme Networks shares, your rights may be affected by this action. To get more information go to:
http://zlk.9nl.com/extreme-networks-extr
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that during the Class Period, defendants issued false and/or misleading statements and/or omitted adverse information including that the Company’s revenue growth depended on the successful integration of Enterasys Networks, Inc., which had not successfully integrated, materially impairing the Company’s ability to address persisting sales problems. In addition, Extreme Networks had begun an alliance with Lenovo, but defendants did not have sufficient visibility into Lenovo’s server business plans to support the Company’s quarterly and fiscal 2015 financial forecasts.
On April 9, 2015, after the markets closed, Extreme Networks announced that it would miss guidance for the third quarter of 2015. The Company also announced that trading in its shares had been halted and that Jeff White, the Company’s Chief Revenue Officer was no longer with the Company.
If you suffered a loss in Extreme Networks you have until December 22, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
