SOURCE: Faruqi & Faruqi LLP

Faruqi & Faruqi LLP

November 23, 2013 08:08 ET

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in Fusion-io, Inc. to Contact the Firm

NEW YORK, NY--(Marketwired - Nov 23, 2013) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Fusion-io, Inc. ("Fusion-io" or the "Company") (NYSE: FIO) of the January 21, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Fusion-io and certain executives.

A complaint has been filed on behalf of all persons who purchased Fusion-io securities between August 10, 2012 and October 23, 2013, inclusive (the "Class Period") in the Northern District of California.

The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, opportunities, and prospects.

Specifically, the action alleges that throughout the Class Period Fusion-io, a computer and hardware systems company specializing in memory storage solutions, and its executives made a series of false and misleading statements concerning the Company's strong revenue guidance and anticipated demand from its strategic customers.

After the market closed on October 23, 2013, the company retracted its prior revenue guidance and disclosed that its expected gross margin in 2014 would fall significantly. Following these announcements, analysts commented that competitive pressures facing Fusion-io were more significant than it had previously represented.

On this news, the Company's stock declined $3.16 per share, or over 24%, to close at $9.82 per share on October 24, 2013 on unusually heavy volume.

Request more information now by clicking here: www.faruqilaw.com/FIO. There is no cost or obligation to you.

Take Action

If you invested in Fusion-io stock or options between August 10, 2012 and October 23, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/FIO. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Fusion-io's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

Contact Information

  • FARUQI & FARUQI, LLP
    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
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    Francis McConville, Esq.
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    Telephone: (877) 247-4292 or (212) 983-9330