|[December 09, 2013]
Fusion-IO Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS --(Business Wire)--
Former United States Securities and Exchange Commission 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 against Fusion-IO, Inc. ("Fusion" or "Company") (NYSE: FIO). The
firms are investigating additional legal claims against the officers and
Board of Directors of Fusion during the period of August 10, 2012 and
October 23, 2013 (the "Class Period").
If you are an affected investor and you want to learn more about the
lawsuit or join the action, contact Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Zachary Groover at Powers Taylor LLP, toll free (877) 728-9607, via
e-mail at firstname.lastname@example.org.
There is no cost or fee to you.
In a recently filed federal class action complaint, Fusion and certain
of its officers and directors were charged with violating certain
provisions of the Securities Exchange Act of 1934. Specifically, the
complaint alleges that among other things, defendants misrepresented
and/or failed to disclose that: (i) Fusion was a market leader in
large-scale flash memory applications; (ii) Fusion was not facing any
competitive pressure or risk from the commoditization of flash memory
products. Defendants also allegedly issued unrealistically positive
revenue guidance and misrepresented that the Company was able to
anticipate the demand from its strategic customers based on its years of
experience as their flash memory supplier. Further, according to the
complaint, on October 23, 2013, the Company revoked its prior revenue
guidance, announced its expected gross margin in 2014 would fall
significantly, and that its CFO and Chief Sales Officer were leaving the
company. Following these disclosures, the Company's stock dropped
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
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