SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

December 07, 2011 10:28 ET

The Law Firm of Levi & Korsinsky Notifies Investors With Losses on Their Investment in IntraLinks Holdings, Inc. of Class Action Lawsuit and the Deadline of February 4, 2012 to Seek a Lead Plaintiff Position

NEW YORK, NY--(Marketwire - Dec 7, 2011) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased IntraLinks Holdings, Inc. ("IntraLinks" or the "Company") (NYSE: IL) common stock between February 17, 2011 and November 10, 2011.

For more information, click here: http://zlk.9nl.com/IL.

The complaint alleges that defendants misrepresented the robustness of its sales and the nature of the Company's relationships with its primary retail customers and also failed to disclose that the Company's growth rate had slowed, particularly in their Extended Enterprise feature. On May 11, 2011, the Company disclosed that they would be curtailing their projected earnings, largely in part due to the reduction in the Company's products by a customer heavily utilizing their Extended Enterprise feature. Consequently, the Company's stock price declined from $29.99 per share to $20.22 per share. On August 10, 2011, the SEC issued to the Company a subpoena requiring disclosure of particular business documents. As a result, IntraLinks shares continued to drop in price from $12.16 per share to $6.64 per share. On November 8, 2011, IntraLinks disclosed ongoing issues with the Extended Enterprise feature of the Company. In reaction to this news, The Company's stock dropped further from $8.79 per share to $4.80.

If you suffered a loss in IntraLinks you have until February 4, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/intralinks-il.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 15th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com