Lawsuit Overview
Settlement Overview
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July 29, 2016 - The court approved the settlement and entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissing the action with prejudice.
March 4, 2016 - The court preliminarily approved the settlement.
January 14, 2016 - Parties filed a stipulation of settlement.
February 11, 2015 - The court granted in part and denied in part the defendants' motion to dismiss.
November 3, 2014 - The defendants filed a motion to dismiss.
September 19, 2014 - The lead plaintiffs filed an amended complaint.
November 20, 2013 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.
September 30, 2013 - Lead plaintiff motions were filed.
September 17, 2013 - The court ordered the cases related.
August 21, 2013 - Another investor filed a complaint.
August 1, 2013 - An investor who purchased shares of Vocera Communications Inc (NYSE: VCRA) filed a lawsuit in the U.S. District Court for the Northern District of California against Vocera Communications Inc over alleged violations of Federal Securities Laws Inc in connection certain allegedly false and misleading statements that were made between March 28, 2012 and May 3, 2013 and/or in connection with Vocera Communications Inc's initial public offering on March 28, 2012.
The plaintiff alleges on behalf of those persons and entities who purchased or otherwise acquired Vocera Communications Inc (NYSE: VCRA) securities between March 28, 2012 and May 3, 2013, and/or pursuant and/or traceable to the registration statement issued in connection with Vocera Communications Inc's initial public offering on March 28, 2012, that Vocera Communications Inc violated the Securities Act of 1933 and the Securities Exchange Act of 1934.
More specifically, the plaintiff alleges that Vocera Communications Inc failed to disclose the severity of the negative impact that healthcare reform and federal budget sequestration were having on sales of Vocera Communications Inc's communication products to hospitals.
On May 2, 2013, Vocera Communications Inc reported its first quarter 2013 results. Vocera Communications Inc said that its revenue for the quarter was $22.4 million, a decrease of 3.1% compared to $23.1 million in the first quarter of 2012.Furthermore, Vocera Communications Inc said that Non-GAAP net loss was $1.6 million for the first quarter of 2013, which compares to non-GAAP net income of $1.4 million for the first quarter of 2012. Vocera Communications Inc also lowered its Full Year 2013 revenue guidance.
Shares of Vocera Communications Inc declined from $19.81 on May 2, 2013, to $12.045 per share on May 3, 2013.
On August 2, 2013, NYSE: VCRA shares closed at $14.35 per share.