NEW YORK, March 24, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a
class action lawsuit has been filed against Gigamon, Inc. ("Gigamon" or the "Company") (NYSE:GIMO) and certain of its officers, on
behalf of a class who purchased Gigamon securities between October 27, 2016 and January 17, 2017, both dates inclusive (the “Class
Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/gimo.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the
Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the
business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) Gigamon was suffering reduced product
bookings in its North America West region; (2) several of Gigamon’s significant customers were deferring purchasing decisions into
2017; (3) Gigamon failed to properly include these trends in its financial guidance; and (4) consequently, Defendants’ statements
about Gigamon’s business, operations, and prospects, including statements about its revenue guidance, were false and misleading
and/or lacked a reasonable basis.
On January 17, 2017, Gigamon revealed its preliminary fourth quarter and 2016 fiscal year results. Gigamon also stated that
fourth quarter revenue for the period ending December 31, 2016 would be "$84.5 million to $85 million compared to the company's
prior guidance of $91 million to $93 million [announced on October 27, 2016]." Moreover, Gigamon said that "[f]ourth quarter
revenue fell short primarily due to lower than expected product bookings in our North America West region, as several significant
existing customer accounts deferred purchasing decisions into 2017." Following this news, Gigamon stock fell $12.65 per share, or
28.7%, to close at $31.40 per share on January 18, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site:
http://www.bgandg.com/gimo or you may contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Gigamon you have until March
28, 2017 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class
action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
