SOURCE: Izard Nobel LLP

April 01, 2011 16:55 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Cisco Systems, Inc.

WEST HARTFORD, CT--(Marketwire - April 1, 2011) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of California on behalf of purchasers of the common stock of Cisco Systems, Inc. ("Cisco" or the "Company") (NASDAQ: CSCO) between May 12, 2010 and February 9, 2011, inclusive (the "Class Period").

The Complaint charges Cisco and certain of its officers and directors violated federal securities laws by making false and misleading statements regarding the Company's business and financial results. Specifically, the Complaint alleges that: (i) Cisco was facing intense pricing pressure for its products from its more traditional competitors and emerging Chinese competitors; (ii) in order to maintain market share and meet its previously announced growth rate targets in the face of the intense pricing pressure being exerted by the Company's competitors, Cisco was forced to dramatically lower prices, which was having a material adverse effect on the Company's margins; and (iii) based on the foregoing, defendants lacked a reasonable basis for their positive statements about Cisco's growth rates, market share, orders, new product introductions and gross and operating margins.

If you are a member of the class, you may, no later than May 30, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/cisco/, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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