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Mellanox Technologies Ltd (NASDAQ: MLNX) Investor Securities Class Action Lawsuit 02/07/2013

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Lawsuit Overview

Case Dismissed
Company
Mellanox Technologies, Ltd.
Security
NASDAQ: MLNX

Case Name
Mellanox Technologies Shareholder Class Action Lawsuit 02/07/2013
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

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

December 17, 2014 - The court granted the defendants' motion to dismiss.
July 7, 2014 - The defendants filed a motion to dismiss.

May 19, 2014 - The lead plaintiffs filed a second amended complaint.

March 31, 2014 - The court granted the defendants' motion to dismiss and granted plaintiffs leave to amend.

December 3, 2013 - The defendants filed a motion to dismiss.

October 30, 2013 - The court ordered the defendants' motion to dismiss on August 22, 2013, terminated.

October 11, 2013 - The court ordered the case transferred to the U.S. District Court for the Northern District of California.

August 22, 2013 - The defendants filed a motion to dismiss.

July 12, 2013 - The lead plaintiffs filed an amended complaint.

May 14, 2013 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.

April 8, 2013 - Lead plaintiff motions were filed.

February 22, 2013 - An additional investor filed a complaint.

February 14, 2013 - Another investor filed a complaint.

February 7, 2013 - An investor in shares of Mellanox Technologies Ltd (NASDAQ: MLNX) filed a lawsuit in the U.S. District Court for the Southern District of New York against Mellanox Technologies Ltd over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 19, 2012 and January 2, 2013.

According to the complaint the plaintiff alleges on on behalf of all persons or entities who purchased the common stock of Mellanox Technologies Ltd (NASDAQ: MLNX) between April 19, 2012 and January 2, 2013, that Mellanox Technologies Ltd and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding Mellanox Technologies Ltd's financial performance and future prospects.

Mellanox Technologies Ltd (NASDAQ: MLNX) reported that its annual Revenue rose from $259.25 million in 2011 to $500.80 million in 2012 and that its Net Income surged from $9.98 million to $111.38 million in 2012.

On April 18, 2012, Mellanox Technologies Ltd reported its financial results for the first quarter 2012.

Shares of Mellanox Technologies Ltd (NASDAQ: MLNX) grew from $65.91 per share on April 19, 2012, to as high as $119.93 per share on Sept. 6, 2012.

Then on Jan. 2, 2013, Mellanox Technologies Ltd announced that its fourth quarter revenue is projected to be in the range of $119 million to $121 million, below the company’s previous guidance of $145 million to $150 million, bringing 2012 annual revenue to approximately $500 million, up from $259 million in 2011.

Shares of Mellanox Technologies Ltd (NASDAQ: MLNX) declined to as low as $47.761 per share on Jan. 8, 2013.

On Feb. 7, 2013, Mellanox Technologies Ltd (NASDAQ: MLNX) shares closed at $54.48 per share, which is less than half its current 52 week High.