Glancy Binkow & Goldberg LLP Announces Investigation of Mellanox
LOS ANGELES -- February 8, 2013
Glancy Binkow & Goldberg LLP announces that it is investigating potential
claims on behalf of purchasers of the common stock of Mellanox Technologies,
Ltd. (“Mellanox” or the “Company”) (NASDAQ:MLNX) concerning possible
violations of federal securities laws. The investigation focuses on
allegations that certain statements issued by Mellanox between April 19, 2012
and January 2, 2013 concerning the Company’s financial performance and
prospects were false and misleading.
Mellanox produces and supplies high-performance interconnect products that
facilitate efficient data transmission between servers, storage systems and
communications infrastructure equipment and other embedded systems. The
Company’s interconnect products, include adapter, gateway and switch ICs,
adapter cards, switch systems, gateway systems and software. The investigation
is related to Mellanox’s January 2, 2013 announcement lowering the Company’s
fourth quarter 2012 revenue guidance. Citing “a weaker demand environment,
challenging macroeconomic conditions, and a technical issue associated with
FDR 56Gb/s InfiniBand cabling which caused approximately $20 million of FDR
deployments to be delayed” the Company revised its fourth quarter financial
outlook to a range of $119 million to $121 million, sharply below the
Company’s previous guidance of $145 million to $150 million.
As a result of this news, the Company’s stock price dropped more than 17%, or
$10.46 per share, to a closing price of $50.70 per share on January 3, 2013 on
heavy volume of more than 8.2 million shares traded.
If you purchased Mellanox common stock between April 19, 2012 and January 2,
2013, if you have information or would like to learn more about these claims,
or if you wish to discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these matters, please
contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925
Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at
(310) 201-9150, Toll Free at (888) 773-9224, by e-mail to
email@example.com, or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
310-201-9150 or 888-773-9224
Press spacebar to pause and continue. Press esc to stop.