Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Nimble Storage

Former United States SEC attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed in the United States District Court, Northern District of California against Nimble Storage, Inc.www.nimblestorage.com and several officers and directors for acts taken during the period of May 27, 2015 to November 19, 2015.

Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and board of directors of Nimble.

According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934.

Specifically, the complaint alleges, among other things,
that defendants failed to disclosure that:

• (1) Nimble was being negatively impacted by intense competition from strong competitors who were reducing prices in order to maintain market share,
• (2) Nimble had made a conscious decision to focus its sales and marketing efforts towards the large enterprises market and to reduce sales efforts in the U.S. commercial market, and
• (3) due to this change in sales strategy and the intense price competition, Nimble was losing sales in both sales channels.

After the close of the markets on November 19, 2015, Nimble announced its financial results for the fiscal third quarter of 2016, the period ending October 31, 2015. For the quarter, the company reported total revenue of $80.7 million, non-GAAP gross margin of 66.9%, a non-GAAP operating loss of $10.8 million or negative 13% of revenue, and a GAAP net loss of $28.6 million, or $0.36 per basic and diluted share.

Nimble stock dropped 51% immediately following this announcement.

Read also:
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
2015.12.03 | Press Release
Nimble Storage Investigated by Robbins Arroyo …
For issuing materially misleading business information
2015.12.03 | Press Release
One More Law Firm Investigating Nimble Storage: Bronstein, Gewirtz & Grossman
For violating Securities Exchange Act
2015.11.25 | Press Release
Nimble Storage Investigated by Johnson & Weaver …
For potential violations of the federal securities laws
2015.11.23 | Press Release
… And Holzer & Holzer …
Regarding business and operations complied with federal securities laws
2015.11.23 | Press Release
… And by Levi & Korsinsky …
For possible securities fraud
2015.11.23 | Press Release
… And Khang & Khang …
For issuing misleading information to investors
2015.11.23 | Press Release
… And Pomerantz Law Firm
For violating Securities Exchange Act
2015.11.23 | Press Release