SOURCE: Kahn Swick & Foti, LLC

May 15, 2015 22:00 ET

MOBILEIRON SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against MobileIron, Inc. - MOBL

NEW ORLEANS, LA--(Marketwired - May 15, 2015) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 30, 2015 to file lead plaintiff applications in a securities class action lawsuit against MobileIron, Inc. (NASDAQ: MOBL) if they purchased the Company's securities between February 13, 2015 through April 22, 2015 (the "Class Period"). This action is pending in the United States District Court for the Northern District of California.

What You May Do

If you purchased shares of MobileIron 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, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 30, 2015.

About the Lawsuit

MobileIron and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On April 22, 2015, MobileIron announced its first quarter 2015 preliminary results, revealing that it expects to report revenue of $32-33 million, below its previous guidance of $34-$37 million, and gross billings of $35.5-$37 million, below its previous guidance of $40-$42 million. MobileIron stated that, "Near the end of the quarter, we witnessed multiple large deals from North American customers that did not close as expected. Further, we saw a large shift by customers to our monthly subscription offering, which resulted in lower billings and revenue." MobileIron also announced that its Chief Financial Officer will be resigning. 

On this news, the price of MobileIron's shares plummeted by over 25% and the Company was downgraded.

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.

Contact Information

  • Contact:

    Kahn Swick & Foti, LLC
    Lewis Kahn
    Managing Partner
    lewis.kahn@ksfcounsel.com
    1-877-515-1850
    206 Covington St.
    Madisonville, LA 70447