A lawsuit was filed on behalf of investors in Carbonite Inc (NASDAQ: CARB) shares over alleged securities laws violations.
San Diego, CA — (SBWIRE) — 08/13/2019 — An investor, who purchased shares of Carbonite Inc (NASDAQ: CARB), filed a lawsuit alleged violations of Federal Securities Laws by Carbonite Inc.
Investors who purchased shares of Carbonite Inc (NASDAQ: CARB) have certain options and for certain investors are short and strict deadlines running. Deadline: September 30, 2019. NASDAQ: CARB investors should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.
Boston , MA based Carbonite, Inc., together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States.
On July 25, 2019, Carbonite Inc announced its financial results for the second quarter of 2019 and that Carbonite was lowering its guidance for the year. Additionally, Carbonite Inc announced Mohamad Ali’s decision to step down as President, CEO and member of the Company’s Board.
Shares of Carbonite Inc (NASDAQ: CARB) declined from $43.63 per share in September 2018 to as low as $17.75 per share on July 25, 2019.
The plaintiff claims that between February 7, 2019 and July 25, 2019, the defendants failed to disclose that Carbonite’s Server Backup VM Edition was of poor quality and technologically flawed, that Carbonite was receiving poor reviews and complaints from customers about the Server Backup VM Edition, and that the poor quality and technological flaws of the Server Backup VM Edition were acting as a “disruptive” factor throughout the Carbonite salesforce and keeping that sales organization from closing opportunistically on several larger deals during fiscal 2019.
Those who purchased shares of Carbonite Inc (NASDAQ: CARB) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423