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Intralinks Holdings Inc (NYSE:IL) Investor Filed Lawsuit Against Directors Over Alleged Breaches Of Fiduciary Duties

  • If you purchased shares of Intralinks Holdings Inc (NYSE:IL) and currently hold any of those NYSE:IL shares, you have certain options and you 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 Derivative Lawsuit
Type of Lawsuit
Stockholder Derivative Action
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Summary

June 1, 2015 (Shareholders Foundation) - An investor in shares of Intralinks Holdings Inc (NYSE:IL)filed a lawsuit against directors of Intralinks Holdings Inc.
According to the complaint the plaintiff alleges that certain directors of Intralinks Holdings Inc (NYSE:IL) sold their own shares for almost $80 million while allegedly concealing information that cause the stock price of NYSE:IL shares to sink over 40%.

In November 2011 IntraLinks Holdings Inc 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.

In December 2011 a lawsuit was filed against Intralinks Holdings Inc over alleged securities laws violations. The plaintiff alleged that between February 17, 2011 and November 10, 2011 certain defendants misrepresented and/or failed to disclose that IntraLinks Holdings Inc was experiencing a slowdown in its Enterprise business segment.

Shares of Intralinks Holdings Inc (NYSE:IL) declined from $31.76 per share in April 2011 to as low as to as low as $4.74 on November 10, 2011.

Intralinks Holdings Inc (NYSE:IL) reported that its annual Total Revenue increased from $213.50 million in 2011 to $255.82 million in 2014 while its respective Net Loss increased from $1.24 million to $26.50 million.