NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm announces a class action has been filed against Envivio, Inc. (NASDAQ: ENVI) alleging that it made false statements of material fact in its prospectus issued in connection with the Company’s April 24, 2012 initial public offering. Namely, Envivio failed to disclose that due to budgetary constraints, a significant number of its customers were already delaying capital spending in the multi-screen video industry, and that the sales cycle for new business was lengthening for the Company since it was taking significantly more time for it to complete business transactions. The Complaint alleges that when this adverse information became known, the value of the Company’s stock lost more than half of its value.
To join the Envivio class action, visit the firm’s website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
If you purchased Envivio stock after April 24, 2012, you may join the class action to recover your investment losses. To join the class action, please visit the website at http://rosenlegal.com. You may also contact Phillip Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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