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LOS ANGELES, Sept. 16, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Carbonite, Inc. (“Carbonite” or “the Company”) (NASDAQ: CARB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between February 7, 2019 and July 25, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before September 30, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Carbonite’s Server Backup VM Edition product suffered from deep quality flaws and poor technology. The Company received many negative reviews of the product from its customers. The product was so flawed that it acted as a “disruptive” factor amongst Carbonite’s sales force, constraining salespeople from closing several large deals in fiscal year 2019. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Carbonite, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm