EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Apigee Corporation – APIC
April 08 2016 - 6:11PM
Business Wire
Rosen Law Firm, a global investor rights law firm, announces the
filing of a class action lawsuit on behalf of purchasers of Apigee
Corporation common stock (NASDAQ:APIC) pursuant to and/or traceable
to Apigee’s April 24, 2015 initial public offering (the “IPO”). The
lawsuit seeks to recover damages for Apigee investors under the
federal securities laws.
To join the Apigee class action, go to the firm’s website at
http://rosenlegal.com/cases-822.html or call Phillip Kim, Esq. or
Kevin Chan, Esq. toll-free at 866-767-3653 or email
pkim@rosenlegal.com or kchan@rosenlegal.com for information on the
class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, the documents filed in connection with
the IPO contained materially false and misleading statements and/or
failed to disclose that: (1) Apigee faced direct competition from
Amazon; (2) Apigee’s 2Q 2105 revenues included an unusually large
transaction from one customer who accounted for approximately 35%
of that quarter’s revenues and was not repeating going forward; (3)
lowered demand for Apigee’s product offerings required Apigee to
scale back on its direct sales efforts and increase its efforts on
selling through channel partners; and (4) as a result, Apigee was
experiencing lowered billings. When the true details entered the
market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to
join the litigation, go to the firm’s website at
http://rosenlegal.com/cases-822.html or to discuss your rights or
interests regarding this class action, please contact Phillip Kim,
Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at
866-767-3653 or via e-mail at pkim@rosenlegal.com or
kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and
shareholder derivative litigation. Attorney Advertising. Prior
results do not guarantee a similar outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20160408005998/en/
The Rosen Law Firm, P.A.Laurence Rosen, Esq.Phillip Kim,
Esq.Kevin Chan, Esq.275 Madison Avenue, 34th FloorNew York, NY
10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212)
202-3827lrosen@rosenlegal.compkim@rosenlegal.comkchan@rosenlegal.comwww.rosenlegal.com
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