Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
SAN FRANCISCO, Feb. 06, 2017 -- Hagens Berman Sobol Shapiro LLP alerts investors in Gigamon, Inc. (NYSE:GIMO) to the securities class action lawsuit filed in the U.S. District Court for the Northern District of California and the March 28, 2017 Lead Plaintiff deadline.
If you purchased or otherwise acquired securities of GIMO between October 27, 2016 and January 17, 2017 and suffered over $50,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/GIMO
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
On January 17, 2017, Defendants disclosed the Company’s preliminary fourth quarter and fiscal 2016 financial results. GIMO currently expects fourth quarter 2016 revenues of $84.5 million to $85 million, as compared to revenue guidance given on October 27, 2016 of $91 million to $93 million.
In response, the price of GIMO shares fell over 28% to close at $31.40 per share on January 18, 2017.
SEC filings show that the Company’s Chief Executive Officer sold approximately $2.8 million of his shares during the interim between the October 27, 2016 guidance and the January 17, 2017 announcement.
“We’re evaluating when the matters impacting the January disclosures were known to management relative to the original revenue guidance and interim insider selling,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding GIMO should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
