NEW YORK, NY --(Marketwired - November 26, 2014) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in FireEye, Inc. ("FireEye" or the "Company") (
A complaint has been filed in the United States District Court for the Northern District of California on behalf of all persons who purchased or otherwise acquired FireEye securities between January 2, 2014 and November 4, 2014 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its statements concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, FireEye misrepresented and/or failed to disclose that (i) the Company's business model had drastically changed from one with low marginal costs that would not rise with an increased subscriber base; and (ii) FireEye's new undisclosed strategy would require an increase in highly trained professional staff which would raise the Company's costs.
On November 4, 2014, FireEye announced a third quarter net loss of $0.51 per share, and further disclosed that the Company had essentially abandoned its core software product business model.
Following this news, the price of the Company's stock declined by $5.13 per share, or nearly 15%, to close on November 5, 2014 at $29.12 per share.
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Take Action
If you invested in FireEye common stock or options between January 2, 2014 and November 4, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/FEYE . You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com . Faruqi & Faruqi, LLP also encourages anyone with information regarding FireEye's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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