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FireEye Inc (NASDAQ: FEYE) Investor Securities Class Action Lawsuit 11/24/2014

  • If you purchased shares of FireEye Inc (NASDAQ: FEYE), you might have certain options and should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
FireEye Inc
Security
NASDAQ: FEYE

Case Name
FireEye Shareholder Class Action Lawsuit 11/24/2014
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of California

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

December 1, 2016 - The court granted the stipulation.
November 30, 2016 - The parties filed a stipulation of dismissing the case with prejudice.

November 14, 2016 - The court granted defendants' motion to dismiss with leave to amend.

August 21, 2015 - Defendants filed a motion to dismiss.

June 29, 2015 - The lead plaintiff filed an amended consolidated complaint.

May 1, 2015 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

January 27, 2015 - Additional lead plaintiff motions were filed.

January 26, 2015 - Lead plaintiff motions were filed.

November 24, 2014 - An investor in shares of FireEye Inc (NASDAQ: FEYE) filed a lawsuit in the U.S. District Court for the Northern District of California against FireEye Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between January 2, 2014 and November 4, 2014.

According to the complaint the plaintiff alleges on behalf of purchasers of FireEye Inc (NASDAQ: FEYE) common shares between January 2, 2014 and November 4, 2014, that the defendants violated Federal Securities Laws.

FireEye Inc went public in September 2013. On February 11, 2014, FireEye Inc reported its financial results for its fourth quarter and fiscal year 2013. FireEye Inc reported that its annual Total Revenue rose from $83.32 million in 2011 to $161.55 million in 2013 and that its respective Net Loss increased from $35.76 million to $120.64 million. Shares of FireEye Inc (NASDAQ: FEYE) rose to $95.63 per share on March 5, 2014.

On March 6, 2014 FireEye Inc (NASDAQ: FEYE) announced the pricing of its follow-on offering of 14 million shares at $82 per share.

On May 6, 2014, FireEye Inc announced its first quarter results.

The plaintiff alleges that FireEye Inc’s $24.3 million in product revenue fell meaningfully short of analysts' estimates of $31 million and reflected a move away from FireEye's organic software business and towards service-oriented offerings which lacked the same potential for profitability. Shares of FireEye Inc (NASDAQ: FEYE) declined from $85.64 per share in February 2014 to as low as $26.44 per share on May 9, 2014.

On November 4, 2014, after the market closed for trading, FireEye Inc released its third quarter results. The plaintiff claims that the third quarter results missed analysts' expectations and that further revealed the Company's virtual abandonment of its core software product business model, resulting in a quarterly loss of $0.51 per share. Shares of FireEye Inc declined from as high as $34.55 per share on November 3, 2014 to as low as w$28.39 per share on November 5, 2014.

On November 28, 2014, FireEye Inc (NASDAQ: FEYE) shares closed at $30.29 per share.