Shareholder Rights Law Firm Johnson & Weaver Vs. Violin Memory

Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether certain officers or directors of Violin Memory, Inc. violated state or federal laws in connection with statements regarding Violin Memory’s business, operations and financial prospects.

On November 21, 2013, the company announced financial results for its third quarter, the first quarterly results since its September 27, 2013 IPO. The company reported a quarterly loss of $0.85 cents a share, nearly twice of what analysts expected. Additionally, the company provided revenue guidance for the fourth quarter between $30 million and $32 million, well below the $44 million consensus estimates.

On this news Violin Memory’s stock price closed down over 48% on November 22, 2013 at $3.11. The company IPO pricing several months earlier was $9.00. This investigation will determine whether shareholders were harmed by misleading public statements concerning financial performance and prospects.