… And Kahn Swick & Foti

Kahn Swick & Foti, LLC and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 15, 2016 to file lead plaintiff applications in a securities class action lawsuit against Nimble Storage, Inc., if they purchased the company’s securities between May 27, 2015 through November 19, 2015, inclusive.

This action is pending in the United States District Court for the Northern District of California.

Nimble Storage and certain of its executives are charged with failing to disclose material information during the class period, violating federal securities laws.

These false statements and omissions include, in part, that Nimble Storage:

• was being negatively impacted by intense competition from well-entrenched, large competitors who were slashing prices in order to maintain market share;
• had made a conscious decision to focus its sales and marketing efforts towards the large enterprises market and to reduce sales efforts in the U.S. commercial market; and
• was losing sales in both sales channels due to this change in sales strategy and the intense price competition.