Levi & Korsinsky, LLP announces the commencement of a class action lawsuit in the United States District Court for the Northern District of California on behalf of shareholders of Extreme Networks, Inc. (NASDAQGS: EXTR) who purchased shares between November 4, 2013 and April 9, 2015.
The complaint alleges that during the Class Period, defendants issued false and/or misleading statements and/or omitted adverse information including that the Company’s revenue growth depended on the successful integration of Enterasys Networks, Inc., which had not successfully integrated, materially impairing the Company’s ability to address persisting sales problems. In addition, Extreme Networks had begun an alliance with Lenovo, but defendants did not have sufficient visibility into Lenovo’s server business plans to support the Company’s quarterly and fiscal 2015 financial forecasts. On April 9, 2015, after the markets closed, Extreme Networks announced that it would miss guidance for the third quarter of 2015. The Company also announced that trading in its shares had been halted and that Jeff White, the Company’s Chief Revenue Officer was no longer with the Company. If you suffered a loss in Extreme Networks you have until December 22, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
To receive more information, please fill out the form.