May 03, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Silicon Graphics International Corp (NASDAQ:SGI) shares over potential securities laws violations by Silicon Graphics International 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 Silicon Graphics International Corp (NASDAQ:SGI) concerning whether a series of statements by Silicon Graphics International regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Silicon Graphics International Corp reported that its Total Revenue declined from $529.95 million for the 52 weeks period that ended on June 27, 2014 to $521.26 million for the 52 weeks period that ended on June 26, 2015 while its respective Net Loss decreased from $52.81 million to $39.15 million.

On January 27, 2016, Silicon Graphics International Corp reported its fiscal second quarter 2016 financial results. Among other things, Silicon Graphics International Corp reiterated its revenue outlook for fiscal year 2016 in the range of $600 to $625 million.

Then on April 27, 2016, Silicon Graphics International Corp reported its fiscal third quarter 2016 financial results. Among other things, Silicon Graphics International Corp lowered its revenue outlook for fiscal 2016 due to delays in federal business. On that same day, Silicon Graphics International Corp revealed during its earnings call that its revenue shortfall in the third quarter was primarily due to one of its largest federal customer redirecting the decision criteria for spending.

Shares of Silicon Graphics International Corp (NASDAQ:SGI) declined to as low as $4.38 per share on April 28, 2016.