is a boutique law firm handling complex and class action litigation, including shareholder derivative litigation, securities class actions, data breach and consumer class actions.

Current Securities Class Action Cases

Federman & Sherwood regularly posts press releases about new class action securities cases, which includes the class period and deadlines for appointment of lead plaintiffs.  Please review any of the case listings  below, and if you bought a security during the class period, we invite you to return an investor certification to our office. Our link to an investor certification for any of the cases can be found below each respective press release on that company.  Once completed, please return to our office by email to rkh@federmanlaw.com or fax to (405) 239-2112. 

Current Cases

Nimble Storage, Inc. [NYSE: NMBL]

Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Nimble Storage, Inc.

 

Oklahoma City, OK (December 22, 2015) – On December 17, 2015, a securities class action lawsuit was filed in the United States District Court for the Northern District of California against Nimble Storage, Inc. (NYSE: NMBL).  The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is May 27, 2015 through November 19, 2015.  More specifically, this litigation was filed because the Company touted its strong performance and provided strong financial projections for future performance starting May 27, 2015.  The Company continued this through the class period and the Company’s stock rose on these comments.

 

The Company issued a press release on November 19, 2015 after the market closed announcing its financial results for the fiscal third quarter of 2016.  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.  The Company acknowledged that its "shift in investment from commercial to enterprise business impacted our commercial revenue growth more than we anticipated." Nimble Storage lowered its guidance for fiscal fourth quarter of 2016 to a loss of $0.11-$0.13 per share on revenue of $87 to $90 million. This estimate is significantly below analysts’ forecasts that the company would break-even on revenue of $99.3 million. On this news, Nimble Storage stock fell $10.34 to close at $10.05 on November 20, 2015.

 

Plaintiff seeks to recover damages on behalf of all Nimble Storage, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above.  You may move the Court no later than Monday, February 15, 2016 to serve as a lead plaintiff for the entire Class.  However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

To join this class action, click here to obtain an investor certification.  Once complete, please email this form to rkh@federmanlaw.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN:  Robin.

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