Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, is investigating potential wrongdoing at CIBER, Inc. (“CIBER” or the “Company”) (NYSE: CBR). Faruqi & Faruqi, LLP seeks to determine whether certain officers and directors at CIBER violated federal securities laws in connection with statements made to the Company’s shareholders.
Request more information now by clicking here: www.faruqilaw.com/CBR
The investigation focuses on whether certain individuals violated federal securities laws by failing to disclose that: (1) CIBER failed to properly evaluate the financial impact of its legacy contracts and the performance of its North American operations; (2) the Company’s unprofitable legacy fixed-price contracts would drag down the Company’s revenues and earnings; and (3) declining sales in the Company’s North American division would continue throughout the 2011 transitional period and adversely affect CIBER’s 2011 financial results.
On August 3, 2011, CIBER issued disappointing financial results for the second quarter of 2011, including an operating loss of $26.5 million. Moreover, CIBER recorded $58.1 million in unexpected charges relating to five of the Company’s unprofitable North American contracts. As a result, CIBER was forced to suspend its financial guidance for 2011. On this news, shares of CIBER lost over 23% of their value to close on August 3, 2011, at just $3.94 a share.Take Action If you purchased CIBER securities between December 15, 2010 and August 3, 2011 and you would like to discuss your legal rights, visit www.faruqilaw.com/CBR. You can also contact us by calling Anthony Vozzolo or Richard W. Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding CIBER’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others. About Faruqi & Faruqi, LLP Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV