Levi & Korsinsky Investigates Fusion-io

Levi & Korsinsky, LLP is investigating Fusion-io, Inc. for possible securities law violations arising out of the conduct of the company’s insiders during the 2013 fiscal year.

On October 23, 2013, Fusion-io reported a loss of $27.9 million for the most recent quarter, and announced revenue was down 27%. The company also announced that CFO Dennis Wolf is leaving the company, while sales chief James Dawson is retiring.

Shares of Fusion-io plummeted more than 24% the following day.

The investigation concerns whether, and to what extent, any of the company’s insiders were aware of Fusion-io’s weakening business condition prior to the October 23 announcement, whether they manipulated its financial results, and whether any company insiders sold company stock at artificially inflated prices.