Nimble Storage Investigated by Robbins Arroyo …

Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Nimble Storage, Inc. violated federal securities laws by issuing materially misleading business information to the investing public.

Nimble Storage, Inc. provides flash-optimized storage platforms.

Nimble Storage Misses Analysts’ Forecasts
On December 13, 2013, Nimble Storage sold 8 million shares of stock in its IPO, raising $168 million in new capital. That day, Nimble Storage’s stock traded as high as $35.13. On November 19, 2015, after the market closed, the company announced an adjusted third quarter loss of $0.14 a share on revenue of $80.7 million, well below analysts’ forecasts of a loss of $0.08 per share on revenue of $87.5 million. Nimble Storage now estimates it will post an adjusted fourth quarter loss of $0.11-$0.13 per share on revenue of $87 to $90 million. This estimate is below analysts’ forecasts that the company would break-even on revenue of $99.3 million.

On this news, Nimble Storage stock fell $10.34, or 48.48%, to close at $10.05 on November 20, 2015.