Investigation of Nimble Storage by Law Offices of Howard G. Smith

Law Offices of Howard G. Smith announces an investigation on behalf of investors of Nimble Storage, Inc. concerning the company’s and its officers’ possible violations of federal securities laws through affirming allegedly false and speculative earnings projections while selling company shares.

Law Offices of Howard G. Smith is preparing a lawsuit on behalf of injured investors.

On November 19, 2015, the company issued a press release announcing its third quarter 2015 results. Nimble Storage reported a non-GAAP operating loss of $10.8 million and a GAAP net loss of $28.6 million. The company attributed the poor results to a “shift in investment from commercial to enterprise business” that impacted the company’s commercial revenue growth more than anticipated.

On this news, Nimble Storage shares fell $10.34 per share, or 51%, to close at $10.05 per share on November 20, 2015, thereby injuring investors. company executives, directors and other insiders profited through the sale of their shares to an unsuspecting market immediately prior to the disclosures that the company would not meet its sales projections. And, in the last 3 months insiders sold 12,689,285 Nimble Storage shares while they affirmed their projections.

Read also:
Glancy Prongay & Murray Commences Investigation on Behalf of Nimble Storage Investors
For possible violations of federal securities laws
2016.01.01 | Press Release
The Law Offices of Vincent Wong Notify Investors of Class Action Involving Nimble Storage
For being negatively impacted by intense competition from well-entrenched, large competitors
2015.12.31 | Press Release
Class Action Lawsuit by Brower Piven Vs. Nimble Storage
Failing to disclose of being negatively impacted by intense competition
2015.12.25 | Press Release
Federman & Sherwood Filed of Securities Class Action Vs. Against Nimble Storage
For violations of federal securities laws
2015.12.24 | Press Release
Nimble Storage Investigated by Rosen Law Firm …
Announcing filing of class action lawsuit
2015.12.21 | Press Release
… Khang & Khang …
For issuing misleading information to investors
2015.12.21 | Press Release
… Lundin Law PC …
Related to allegations that certain statements issued by Nimble were false and misleading
2015.12.21 | Press Release
… As Well as Goldberg Law PC
Accused of violating securities laws