Nimble Storage Investigated by Johnson & Weaver …

Shareholder rights law firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Nimble Storage, Inc. and certain of its officers. Nimble Storage provides flash-optimized storage platforms.

Specifically, Johnson & Weaver’s investigation seeks to determine whether certain statements regarding Nimble Storage’s business and prospects were false and misleading when made.

On December 13, 2013, Nimble Storage stock traded as high as $35.13, the day the company sold 8.0 million shares of stock in its IPO, raising $168 million in new capital.

However, since the IPO, Nimble Storage’s stock has imploded, falling from its high of $58.00 in February 2014 to trade at $10.70 in early morning trading on November 20, 2015.

On November 19, 2015, after the market closed, the company announced an adjusted third-quarter loss of 14 cents a share on revenue of $80.7 million. Analysts has forecasted a loss of 8 cents a share on revenue of $87.5 million. Nimble estimates an adjusted fourth-quarter loss of 11 cents to 13 cents a share on revenue of $87 million to $90 million. Analysts had forecast break-even results on revenue of $99.3 million.