SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

September 06, 2011 13:22 ET

Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased Blue Coat Systems, Inc. Common Stock Between 11/24/09 and 5/27/10; Announces Investor Deadline (BCSI)

DENVER, CO--(Marketwire - Sep 6, 2011) - Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the Northern District of California on behalf of all persons who purchased the common stock of Blue Coat Systems, Inc. (the "Company") (NASDAQ: BCSI) between November 24, 2009 and May 27, 2010, inclusive (the "Class Period")

What actions may I take at this time? If you purchased shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment by the court no later than October 31, 2011. If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at jeff@dyerberens.com. Any member of the putative class may request a lead plaintiff appointment through counsel of its choice or may choose to do nothing and remain an absent class member.

What are the allegations in the complaint? The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company's business. Specifically, the Company issued false and misleading statements which overstated the demand for its product and service offerings in its European market, understated the difficulties it was experiencing selling its WAN optimization products after the initial installation, understated the extent to which customers were cancelling orders of its products and services, understated the extent to which it was losing market share to competitors, and that as a result, defendants lacked a reasonable basis for their positive statements about the Company's business and financial prospects. Based upon the foregoing, the complaint charges the Company and certain of its officers with violations of the Securities Exchange Act of 1934.

About Dyer & Berens LLP. The plaintiff is represented by several law firms, including Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    303 East 17th Avenue, Suite 300
    Denver, CO 80203
    Tel: (888) 300-3362 x302
    Email: Email Contact
    Website: www.DyerBerens.com