Law Offices of Howard G. Smith Announces Investigation On Behalf of
Investors of Mellanox Technologies, Ltd.
BENSALEM, Pa. -- February 12, 2013
Law Offices of Howard G. Smith announces that it is investigating potential
claims against 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 were false and misleading
concerning the Company’s financial performance and prospects. 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 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, Toll Free at (888) 638-4847, or by email to
firstname.lastname@example.org, or visit our website at
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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