Once More Lawyer Filing of Class Action Lawsuit Vs. Carbonite …

The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Carbonite, Inc. for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. SEC.

According to the complaint, the company made false and misleading statements to the market.

Carbonite’s Server Backup VM Edition product suffered from deep quality flaws and poor technology. The company received many negative reviews of the product from its customers. The product was so flawed that it acted as a disruptive factor amongst firm’s sales force, constraining sales people from closing several large deals in fiscal year 2019.

Based on these facts, the company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Carbonite, investors suffered damages.

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Attorney Ademi & O’Reilly Investigates Possible Securities Fraud of Carbonite
As Server VM Edition, launched in October 2018, was technically substandard, of poor quality, and being rejected by customers.
July 31, 2019 | Press Release