Another Class Action Vs. Fusion-io Filed by Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC announces that a securities class action has been filed in the United States District Court for the Northern District of California on behalf of those who purchased shares of Fusion-io, Inc., during the period between August 10, 2012 and October 23, 2013, inclusive.

The complaint charges Fusion and certain of its executives with violations of federal securities laws. On October 23, 2013, the company revoked its prior revenue guidance and announced that its expected gross margin in 2014 would fall.

The company also announced that CFO Dennis Wolf and chief sales officer James Dawson were leaving the company.

Following these disclosures, stock analysts commented that lower revenue growth and falling margins could only mean that the competitive pressures facing Fusion-io were more significant than the company had represented. On this news, shares of Fusion-io fell from $12.98 per share to $9.82 per share, or 24%, on October 23, 2013.

Plaintiff seeks to recover damages on behalf of all Fusion shareholders who purchased common stock during the class period described above.