The Shuman Law Firm Investigates Extreme Networks, Inc.
April 23 2018 - 10:39AM
Business Wire
The Shuman Law Firm announces that it is investigating potential
shareholder claims against certain officers and directors of
Extreme Networks, Inc. (“Extreme Networks” or the “Company”)
(Nasdaq: EXTR). Extreme Networks provides software-driven
networking solutions for enterprise customers worldwide.
Extreme Networks investors filed a class action complaint
against the Company for alleged violations of the Securities
Exchange Act of 1934 between November 4, 2013 and April 9, 2015.
The complaint alleges that Extreme Networks misrepresented the
success of the company's post-acquisition integration with its
former competitor, Enterasys Networks, Inc. by assuring investors
that there would be no disruption in customers' ability to grow and
operate their networks. However, the integration was a failure,
resulting in client loss, client dissatisfaction, and high
executive turnover. On April 9, 2015, the Company announced that it
would severely miss guidance for non-GAAP revenue and earnings per
share for its third fiscal quarter of 2015. On this news, Extreme
Networks' stock fell approximately 23% to close at $2.50 per share
on April 20, 2015. On March 21, 2018, the Honorable Beth Labson
Freeman of the U.S. District Court for the Northern District of
California, San Jose Division denied in part Extreme Networks'
motion to dismiss, paving the way for litigation to proceed.
If you currently own Extreme Networks common stock and are
interested in discussing your rights, or have information relating
to this investigation, please contact Kip B. Shuman or Rusty E.
Glenn toll free at (866) 569-4531 or email Mr. Shuman at
kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
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version on businesswire.com: https://www.businesswire.com/news/home/20180423005880/en/
The Shuman Law FirmKip B. Shuman, Esq.,
866-569-4531kip@shumanlawfirm.comorRusty E. Glenn, Esq.,
866-569-4531rusty@shumanlawfirm.comorFax:
303-536-7849www.shumanlawfirm.com
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