January 20, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Gigamon Inc (NYSE:GIMO) shares over potential securities laws violations by Gigamon Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Gigamon Inc (NYSE:GIMO) concerning whether a series of statements by Gigamon Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Gigamon Inc reported that its annual Total Revenue rose from $157.13 million in 2014 to $221.97 million in 2015 and that its Net Loss of $40.79 million in 2014 turned into a Net Income of $6.19 million in 2015.

Shares of Gigamon Inc (NYSE:GIMO) grew from $22.54 per share in January 2016 to as high as $60.35 per share in November 2016.

On January 17, 2017, Gigamon Inc announced its preliminary fourth quarter and fiscal year 2016 results. In the report, Gigamon Inc announced that fourth quarter revenue for the period ending December 31, 2016 would be less compared to the prior years guidance. According to Gigamon Inc, its fourth quarter revenue fell short due to lower than expected product booking as well as the decision of existing customers to hold purchasing decisions into 2017.

Shares of Gigamon Inc (NYSE:GIMO) declined to as low as $30.50 per share on January 18, 2017.

On January 20, 2017 NYSE:GIMO shares closed at $34.20 per share.