SOURCE: Kahn Swick & Foti, LLC
NEW ORLEANS, LA--(Marketwire - Nov 16, 2012) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that a securities class action lawsuit has been filed against Envivio, Inc. (NASDAQ: ENVI), on behalf of those investors who purchased the Company's securities pursuant or traceable to the Company's April 24, 2012 Initial Public Offering. This action is pending in the Superior Court of the State of California, County of San Mateo.
What You May Do
If you purchased shares of Envivio and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (firstname.lastname@example.org), toll free, 877-515-1850, or via cell phone any time at 504-301-7900.
About the Lawsuit
Envivio and certain of its senior executives are charged with issuing a series of materially false and misleading statements, during the Class Period, in violation of federal securities laws.
On August 13, 2012, shares of Envivio fell 56% after the Company disclosed that its revenues for the second quarter were substantially below guidance. Thereafter, on September 6, 2012, after Envivio announced second quarter results and disappointing guidance, Company shares fell an additional 20%, to just $2.15 per share -- a 76% decline compared to Envivio's $9.00 IPO price.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.