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Lawsuit filed for Investors in shares of Carbonite Inc (NASDAQ: CARB)

08-07-2019 11:22 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Carbonite Inc (NASDAQ: CARB) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Carbonite Inc (NASDAQ: CARB) shares over alleged securities laws violations.

An investor, who purchased shares of Carbonite Inc (NASDAQ: CARB), filed a lawsuit over alleged violations of Federal Securities Laws by Carbonite Inc.

Investors who purchased shares of Carbonite Inc (NASDAQ: CARB) have certain options and for certain investors are short and strict deadlines running. Deadline: September 30, 2019. NASDAQ: CARB investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Boston , MA based Carbonite, Inc., together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States.

On July 25, 2019, Carbonite Inc announced its financial results for the second quarter of 2019 and that Carbonite was lowering its guidance for the year. Additionally, Carbonite Inc announced Mohamad Ali's decision to step down as President, CEO and member of the Company's Board.

Shares of Carbonite Inc (NASDAQ: CARB) declined from $43.63 per share in September 2018 to as low as $17.75 per share on July 25, 2019.

The plaintiff claims that between February 7, 2019 and July 25, 2019, the defendants failed to disclose that Carbonite’s Server Backup VM Edition was of poor quality and technologically flawed, that Carbonite was receiving poor reviews and complaints from customers about the Server Backup VM Edition, and that the poor quality and technological flaws of the Server Backup VM Edition were acting as a “disruptive” factor throughout the Carbonite salesforce and keeping that sales organization from closing opportunistically on several larger deals during fiscal 2019.

Those who purchased shares of Carbonite Inc (NASDAQ: CARB) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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