Levi & Korsinsky Investigating Barracuda Networks

Levi & Korsinsky, LLP has commenced an investigation of Barracuda Networks, Inc. concerning possible violations of federal securities laws by certain officers and directors.

On September 30, 2015, the company’s shares plunged over 34%, the biggest one-day decline since the company’s initial public offering in November 2013.

The company disclosed to investors that second-quarter revenue was $78.4 million, while analysts had projected $78.7 million.

The company also said it sees “some evidence that growth in the overall storage market has slowed.”