… And Kahn Swick & Foti …
For possible violations of state or federal securities laws
This is a Press Release edited by StorageNewsletter.com on November 25, 2013 at 2:19 pmFormer Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (KSF), announces that KSF has commenced an investigation into Violin Memory, Inc.
On November 22, 2013, Violin Memory announced its third quarter 2013 financial results, reporting a loss of $0.66 per share and an adjusted loss of $0.85 per share-almost twice as much as the net loss of $0.44 per share that Wall Street analysts had expected. The company also provided a full-year revenue forecast of only between $30 million and $32 million, much lower than the $44 million analysts had estimated.
On this news, Violin Memory was downgraded by multiple analysts, and its shares fell drastically, by over 48%.
KSF’s investigation is focusing on whether Violin Memory and/or its officers and directors violated state or federal securities laws.
Subscribe to our free daily newsletter
