NEW YORK, Dec. 07, 2015 (GLOBE NEWSWIRE) -- 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.
Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com pkim@rosenlegal.com kchan@rosenlegal.com www.rosenlegal.com
