May 10, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Pure Storage Inc (NYSE:PSTG) shares over potential securities laws violations by Pure Storage 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 Pure Storage Inc (NYSE:PSTG) concerning whether a series of statements by Pure Storage Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

The company conducted its initial public offering in early October 2015. Shares of Pure Storage Inc (NYSE:PSTG) reached as high as $20.60 per share on October 15, 2015.

On March 2, 2016 Pure Storage Inc announced its fourth quarter and fiscal year 2016 financial results and issued its outlook for its first quarter fiscal 2017 and fully year fiscal 2017 guidance. Pure Storage Inc reported that its Total Revenue rose from $174.45 million for the 12 months period that ended on January 31, 2015 to $440.33 million for the 12 months period that ended on January 31, 2016 while its Net Loss for those respective time periods increased from $183.23 million to $213.75 million.

Shares of Pure Storage Inc (NYSE:PSTG) closed on May 13, 2016 at $14.17 per share.
NYSE:PSTG