Gainey & McKenna Announces a Securities Fraud Class Action Lawsuit Has Been
Filed Against Envivio, Inc. -- ENVI
NEW YORK, Jan. 2, 2013 (GLOBE NEWSWIRE) -- Gainey & McKenna announces that a
class action lawsuit has been filed in the United States District Court for
the Northern District of California on behalf of purchasers of Envivio, Inc.
("Envivio" or the "Company") (Nasdaq:ENVI) common stock pursuant or traceable
to the Company's allegedly false and misleading Registration Statement and
Prospectus issued in connection with its April 24, 2012 initial public
offering ("IPO"), seeking to pursue remedies under the Securities Act of 1933
The Complaint alleges that in the registration statement for the IPO 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.
If you wish to serve as lead plaintiff, you must move the Court no later than
February 18, 2013. A lead plaintiff is a representative party acting on behalf
of other class members in directing the litigation. If you wish to join the
litigation, or to discuss your rights or interests regarding this class
action, please contact Thomas J. McKenna, Esq. of Gainey & McKenna at (212)
983-1300, or via e-mail at email@example.com.
While Gainey & McKenna did not file the Complaint in this matter, the firm,
with offices in New York and New Jersey, regularly prosecutes cases on behalf
of shareholders in state and federal courts throughout the United States.
CONTACT: Gainey & McKenna
Thomas J. McKenna, Esq.
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