San Diego, Sept. 19, 2011 (Shareholders Foundation) -- An investigation on behalf of current long term investors of Blue Coat Systems, Inc. (NASDAQ: BCSI) over possible breaches of fiduciary duties by certain directors and officers of Blue Coat Systems was announced.

The investigation by a law firm for current long term investors in BCSI shares follows an earlier lawsuit filed for investors who only purchased BCSI shares between November 24, 2009 and May 27, 2010
The investigation for current BCSI stockholders including also those who purchased their BCSI shares also prior to November 2009 and current hold those BCSI shares concerns whether certain current and/or former officers and members of the Blue Coat Systems board of directors can be held liable/ are liable in connection with the alleged Securities Laws violations in the lawsuit by investors who purchased BCSI shares between November 24, 2009 and May 27, 2010. According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that Blue Coat Systems violated the Securities Exchange Act of 1934 by issuing allegedly false and misleading statements.

Shares of Blue Coat Systems, Inc. (NASDAQ: BCSI) increased from as low as $7.50 per share to over$35.47 per share in April 2010.

Then on May 27, 2010, so the lawsuit, defendants announced after the close of trading that the demand for Blue Coat Systems' product and services offerings had significantly weakened in 'almost every country in Europe' and defendants also disclosed that Blue Coat System had been unable to close multiple sales in Europe.

Since April 2010 BCSI stocks fell from over $35 per share to as low as $12.49 per share on August 22, 2011.