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IntraLinks Holdings Inc (NYSE: IL) Investor Securities Class Action Lawsuit 12/05/2011

  • If you purchased shares of IntraLinks Holdings Inc (NYSE: IL), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
IntraLinks Holdings, Inc.
Security
NYSE: IL

Case Name
IntraLinks Holdings Shareholder Class Action Lawsuit 12/05/2011
Type of Lawsuit
Shareholder Class Action
Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
intralinks_holdings_inc_settlement_notice_7_2015.pdf
Settlement Proof
intralinks_holdings_inc_settlement_proof_7_2015.pdf
Filed Complaint
intralinks_holdings_inc_original_filing_edited_12_2011.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$14,000,000.00
Deadline to Participate in Settlement

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Summary

November 12, 2015 - The court held a final settlement hearing and approved the settlement and the plan of allocation, and entered the order approving the motion for attorneys’ fees and expenses, and dismissing the action with prejudice.
July 31, 2015 - Parties filed stipulation of settlement and the court preliminarily approved the settlement.

May 8, 2013 - The court denied the defendants' motions to dismiss.

July 31, 2012 - The defendants filed motions to dismiss.

June 15, 2012 - The lead plaintiff filed an amended consolidated complaint.

April 3, 2012 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

February 3, 2012 - Lead plaintiff motions were filed.

December 5, 2011 - An investor in shares of IntraLinks Holdings Inc (NYSE: IL) filed a lawsuit in U.S. District Court for the Southern District of New York against IntraLinks Holdings Inc over alleged Violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 17, 2011 and November 10, 2011.

According to the complaint the plaintiff alleges that IntraLinks Holdings Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between February 17, 2011 and November 10, 2011, materially false and misleading statements regarding IntraLinks Holdings Inc’s business and prospects. Specifically, so the lawsuit, defendants misrepresented and/or failed to disclose that IntraLinks Holdings Inc was experiencing a slowdown in its Enterprise business segment.

While IntraLinks Holdings Inc reported that its annual Revenue increased from $122.71 million in 2007 to $184.33 million in 2010, however IntraLinks Holdings Inc was not able to pull out of its Net loss which ranged from $12.44 million to $24.77 million.

Shares of IntraLinks Holdings Inc (NYSE: IL) rose from $12.32 per share in August 2010 to as high as $31.76 per share in April 29, 2011.

Then on May 11, 2011, IntraLinks Holdings Inc announced its financial results for the first quarter of 2011, announcing the reduction of its full year 2011 income projections from $21-$23 million to $17-$19 million.

On August 10, 2011, IntraLinks Holdings Inc issued a press release announcing its financial results for the second quarter of 2011.

Then on November 8, 2011, IntraLinks Holdings Inc (NYSE: IL) announced its results for its third quarter of 2011. Among other things, IntraLinks Holdings Inc issued also its fourth quarter 2011 guidance which is below analysts' estimates.

Since April IntraLinks Holdings Inc (NYSE: IL) shares fell to recently roughly $5 per share. In fact, NYSE: IL stocks dropped from $8.79 per share on November 8, 2011 to as low as $4.80 on November 10, 2011.

intralinks_holdings_inc_original_filing_edited_12_2011.pdf
Date Settled