PHILADELPHIA, March 7, 2014 /PRNewswire/ -- Barrack, Rodos & Bacine is investigating potential claims on behalf of investors in DigitalGlobe, Inc. ("DigitalGlobe" or the "Company") (NYSE: DGI) who purchased common stock from October 31, 2013 through February 25, 2014. Such investors are advised to contact: Sam Ward, Esq. via email at firstname.lastname@example.org or by telephone at 619-230-0800; or Julie Palley, Esq. via email at email@example.com or by telephone at (215) 963-0600.
The investigation concerns whether DigitalGlobe and certain of its officers have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On February 26, 2014, the Company reported its fourth quarter and full-year 2013 results. The Company's reported full-year revenue and earnings fell well below projections the Company had issued just four months earlier on October 31, 2013, which had sparked a significant increase in the price of DigitalGlobe stock. The Company further updated its outlook for 2014, guiding to between $630-$660 million in revenue, which was far below the 10% average long term growth the Company had represented during November 2013 investor conferences.
With this news, shares of DigitalGlobe plummeted from the prior day's close of $41.12 to $29.21, a one-day drop of $11.91, or 27.3% of the stock's value.Further, on March 2, 2014, the Company announced that it had replaced its chief accounting officer the day after its fourth quarter results were released. Since then, DigitalGlobe stock has continued to trade in the low $30s. If you purchased shares in DigitalGlobe from October 31, 2013 through February 25, 2014 and would like to learn more about certain potential claims or wish to discuss the matter further, please contact Sam Ward, Esq. via email at firstname.lastname@example.org or by telephone at 619-230-0800; or Julie Palley, Esq. via email at email@example.com or by telephone at (215) 963-0600. Barrack, Rodos & Bacine is a national firm with offices in Philadelphia, New York and San Diego. The firm has extensive expertise in prosecuting securities litigation involving financial reports, representing investors throughout the nation in securities and shareholder lawsuits. Over the past 15 years, Barrack, Rodos & Bacine has recovered more than $12 billion for injured investors. SOURCE Barrack, Rodos & Bacine