Lawsuit Overview
March 16, 2016 - The court dismissed the case with prejudice.
March 11, 2016 - The parties filed a stipulation dismissing the case with prejudice.
February 22, 2016 - The court granted defendants' motion to dismiss with leave to amend.
November 13, 2015 - Defendants filed a motion to dismiss.
September 29, 2015 - The lead plaintiff filed an amended complaint.
July 29, 2015 - Lead plaintiff and lead counsel were appointed.
June 30, 2015 - Lead plaintiff motions were filed.
May 1, 2015 - An investor in shares of Mobileiron Inc (NASDAQ: MOBL) filed a lawsuit in the U.S. District Court for the Northern District of California against Mobileiron Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 13, 2015 and April 22, 2015.
According to the complaint the plaintiff alleges on behalf of purchasers of Mobileiron Inc (NASDAQ: MOBL) common shares between February 13, 2015 and April 22, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Mobileiron Inc and certain of its officers and directors issued certain materially false and misleading statements about the Company’s true financial condition and prospects.
Mobileiron Inc, formerly Mobile Iron, Inc went public in June 2014 and shares of Mobileiron Inc (NASDAQ: MOBL) traded in early September 2014 as high as $12.05 per share.
On Feburary 12, 2015, Mobileiron Inc announced its fiscal fourth quarter and full year 2014 financial results. Mobileiron Inc reported that annual total Revenue rose from $105.57 million in 2013 to $132.29 million in 2014 while its Net Loss increase dfrom $32.50 million to $61.89 million. Mobileiron Inc also provided an outlook for its fiscal first quarter 2015. Among other things, Mobileiron Inc said that it expects tha its total billings are to be between $40 million and $42 million and that its total non-GAAP revenue is to be between $34 million and $37 million, and GAAP revenue is to be between $34.8 million and $37.8 million.
Then on April 22, 2015, Mobileiron Inc announced preliminary financial results for its first quarter of 2015. Mobileiron Inc said that gross billings for the quarter are expected to be in the range of $35.5-$37.0 million, below the company's guidance of $40.0-$42.0 million and that total non-GAAP revenue is expected to be between$32.0-$33.0 million, compared to guidance of $34.0-$37.0 million.
Shares of Mobileiron Inc (NASDAQ: MOBL) declined to as low as $6.02 per share on April 23, 2015.