|[January 08, 2014]
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of Class Action Against Fusion-IO, Inc. and Its Board of Directors and a Lead Plaintiff Deadline of January 21, 2014 -- FIO
NEW YORK --(Business Wire)--
Levi & Korsinsky announces that a class action lawsuit has been
commenced in the USDC for the Northern District of California on behalf
of investors who purchased Fusion-IO, Inc. ("Fusion" or the "Company")
(NYSE:FIO) securities between August 10, 2012 and October 23, 2013.
For more information, click here: http://zlk.9nl.com/fusion-io-fio/.
The complaint alleges that the Company issued materially false and
misleading statements and/or failed to disclose material adverse facts
concerning the Company's business, operations, and prospects. In
particular, it is alleged that the Company misrepresented the following:
a) its supposed position as a leader in the large-scale lash memory
application market; b) the level of competition it faced from the
commoditization of flash memory products; and c) the Company's ability
to anticipate demand.
On October 23, 2013, the Company announced its financial results for the
first quarter of the 2014 fiscal year, revoking its prior revenue
guidance and further announcing its expected gross margin in 2014 would
fall significantly. Fusion-IO also announced that its Chief Financial
Officer and Chief Sales Officer were both leaving the Company. Upon this
news, shares of Fusion-IO fell from a price of $12.98 per share to a
close of $9.82 per share the following business day.
If you suffered a loss in Fusion-IO you have until January 21, 2014 to
request that the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn't require that you serve as a lead
plaintiff. To obtain additional information, contact Joseph E. Levi,
Esq. either via email at email@example.com
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/fusion-io-fio/.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. For more information, please feel
free to contact any of the attorneys listed below. Attorney advertising.
Prior results do not guarantee similar outcomes.
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