Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing in Envivio, Inc. to Contact the Firm

  Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses
                Investing in Envivio, Inc. to Contact the Firm

PR Newswire

NEW YORK, Nov. 17, 2012

NEW YORK, Nov. 17, 2012 /PRNewswire/ --Faruqi & Faruqi, LLP, a leading
national securities law firm, is investigating potential securities fraud at
Envivio, Inc. ("Envivio" or the "Company") (NasdaqGS: ENVI).

(Logo: http://photos.prnewswire.com/prnh/20120119/MM38856LOGO )

The investigation focuses on whether the Company and its executives violated
federal securities laws by failing to disclose that:(1) Envivio's largest
customers did not view the Company's services as a priority and were
uninterested in increasing their demand for Envivio services to the extent
represented; (2) the Company was experiencing lengthening sales cycles for
closing new business; (3) the Company was struggling to maintain a competitive
advantage due to the technologies of its rival, Harmonic Inc.; and (4)
considering that the Company's business was not growing as quickly as
represented, the Company's past revenue results were not indicative of
Envivio's future financial operations.

An accurate picture of Envivio's business began to be disclosed on August 13,
2012. On that day, Envivio stock fell 56% after Defendants disclosed that the
Company's preliminary second quarter revenues were substantially below prior
projections. On September 6, 2012, Envivio definitively announced poor second
quarter results and disappointing guidance. Envivio stock fell another 20%,
falling to $2.15 per share on September 7, 2012 – a 76% decline from the
Company's $9.00 IPO price.

Then, on November 13, 2012 Envivio issued a press release revealing that
revenues for the third quarter ending October 31, 2012 would be in the range
of $7.0 million – $7.5 million, well below the Company's previous guidance of
$10 million – $11 million. This resulted in a further decline of Envivio
share price of roughly 16.5 percent on November 14, 2012.

Request more information now by clicking here: www.faruqilaw.com/ENVI. There
is no cost or obligation to you.

Take Action
If you purchased Envivio stock or options pursuant or traceable to the
Company's April 24, 2012 Initial Public Offering and would like to discuss
your legal rights, visit www.faruqilaw.com/ENVI. You can also contact us by
calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at
212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or
fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with
information regarding Envivio's conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter. We welcome the
opportunity to discuss your particular case. All communications will be
treated in a confidential manner.

FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Francis McConville, Esq.
fmcconville@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

SOURCE Faruqi & Faruqi, LLP

Website: http://www.faruqilaw.com
 
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