According to the complaint, through a series of partial disclosures made between September 7, 2012 and January 3, 2013, the market learned that the Company's business was not as defendants had portrayed it throughout the Class Period. On September 7, 2012, Mellanox shares were downgraded from Buy to Hold. Then on October 18, 2012, Mellanox reported third quarter 2012 financial results and issued lower than expected fourth quarter 2012 fiscal guidance. Finally, on January 2, 2013, defendants admitted that Mellanox had grossly missed its fourth quarter 2012 revenue guidance by upwards of 20%. This news, along with the earlier negative announcements, caused the price of Mellanox stock to fall precipitously, on unusually high trading volume.Plaintiffs seek to recover damages on behalf of all Class members who invested in Mellanox common stock during the Class Period. If you invested in Mellanox common stock as described above during the Class Period, and either lost money on the transaction or still hold the shares, you may wish to join in this action to serve as lead plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than April 8, 2013.
Bernstein Liebhard LLP Announces That A Class Action Has Been Filed Against Mellanox Technologies, Ltd.
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