Cohen Milstein Sellers & Toll PLLC Announces the Investigation of Envivio, Inc.

  Cohen Milstein Sellers & Toll PLLC Announces the Investigation of Envivio,
  Inc.

Business Wire

WASHINGTON -- January 22, 2013

Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine
whether Envivio, Inc. (“Envivio” or the “Company”) and certain of its officers
and directors violated Sections 11 and 15 of the Securities Act of 1933.

The first of several class action lawsuits was filed in the U.S. District
Court for the Northern District of California by another law firm on behalf of
all persons or entities that purchased or otherwise acquired the common stock
of Envivio, Inc. (NASDAQ: ENVI) pursuant or traceable to the Company's initial
public offering on or after April 24, 2012 ("IPO"). Envivio sold 7.75 million
shares in the IPO priced at $9.00 per share.

The complaints allege that the Registration Statement failed to disclose that:
(1) due to budgetary constraints Envivio’s largest customers were not
increasing their demand for Envivio’s services to the extent represented; (2)
Envivio was experiencing an extensive lengthening in its sales cycle for
closing new business; (3) Envivio was having trouble maintaining a competitive
advantage and was losing deals to rival video processing technologies; and (4)
Envivio’s past revenue results were not indicative of its future operations as
the Company’s business was not growing as fast as represented, particularly in
North America and Western Europe.

Following the IPO, the Company reported continuous and steep declines in its
revenues and there was a recurring disparity between the guidance provided by
the Company and its actual sales. On December 4, 2012, Envivio released its
actual third quarter results, including revenue of just $7.2 million, which
was 49% below reported revenue for the third quarter of the prior year. The
Company also reported a net loss of $5.6 million, or ($0.21) per share,
compared to net income of $484,000, or breakeven a year earlier, announced a
“restructuring of its sales force,” and the departure of Chief Operating
Officer, Kevin O'Keefe.

Cohen Milstein encourages all investors who purchased Envivio common stock
pursuant or traceable to the Company's initial public offering on or after
April 24, 2012 or former employees with information concerning this matter to
contact the firm.

If you are an Envivio shareholder and would like to discuss your right to
recover for your economic loss, you may, without any cost or obligation, call
Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202)
408-4600, or email him at stoll@cohenmilstein.com. If you wish to serve as
lead plaintiff, you must move the Court no later than February 18, 2013 to
request that the Court appoint you as lead plaintiff. A lead plaintiff is a
representative party acting on behalf of other class members in directing the
litigation. To be appointed lead plaintiff, the Court must decide that your
claim is typical of the claims of other class members, and that you will
adequately represent the class. Your share in any recovery will not be
enhanced or diminished by the decision whether or not to serve as a lead
plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers
& Toll PLLC or other attorneys to serve as your counsel in this action, or you
may do nothing and remain an absent class member.

Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting
investor class actions and actions involving securities fraud. The firm has
offices in Washington, D.C., New York, Chicago, Philadelphia and Palm Beach
Gardens, and is active in major litigation pending in federal and state courts
throughout the nation.

The firm’s reputation for excellence has repeatedly been recognized by courts
which have appointed the firm to lead positions in complex multi-district or
consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead
role in numerous important cases on behalf of defrauded investors, and has
been responsible for a number of outstanding recoveries which, in the
aggregate, total over a billion dollars. Prior results do not guarantee a
similar outcome. For more information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, or with regard to
your rights, please contact either of the following:

Steven J. Toll, Esq.
John Lu
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
West Tower, Suite 500
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: stoll@cohenmilstein.com; jlu@cohenmilstein.com

Attorney Advertising

Contact:

Cohen Milstein Sellers & Toll PLLC
Steven J. Toll, Esq.
888-240-0775 or 202-408-4600
stoll@cohenmilstein.com
or
John Lu
888-240-0775 or 202-408-4600
jlu@cohenmilstein.com
 
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