Class Action Lawsuit Vs. Carbonite by Bronstein, Gewirtz & Grossman …

Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit vs. Carbonite, Inc. has been filed.

The lawsuit alleges that throughout the class period, defendants made false and/or misleading statements and/or failed to disclose that:
(1) Carbonite’s Server Backup VM Edition was of poor quality and technologically flawed;
(2) Carbonite was receiving poor reviews and complaints from customers about the Server Backup VM Edition;
(3) the poor quality and technological flaws of the Server Backup VM Edition were acting as a “disruptive” factor throughout the Carbonite salesforce and keeping that sales organization from closing opportunistically on several larger deals during fiscal 2019; and
(4) as a result, defendants’ public statements were materially false and misleading at all relevant times.

The complaint alleges that throughout the class period, defendants made false and/or misleading statements by stating that Cordis Corp., a medical device manufacturer that Cardinal Health acquired in March 2015, would benefit from its advanced inventory management and supply chain information technology solutions.

The complaint also alleges that defendants misleadingly represented that Cardinal Health properly “reserve[d] for inventory obsolescence” and that “inventories presented in the consolidated balance sheets [were] net of reserves for excess and obsolete inventory.”

Read also:
Also Robbins Geller Rudman & Dowd Commenced Class Action Suit Against Carbonite
Failing to disclose adverse information regarding technological quality of Server Backup VM Edition
August 8, 2019 | Press Release
Once More Lawyer Filing of Class Action Lawsuit Vs. Carbonite …
The Schall Law Firm
August 7, 2019 | Press Release
… As Well as Former Louisiana Attorney General: Kahn Swick & Foti
Carbonite failing to disclose material information during class period, violating federal securities laws
August 7, 2019 | Press Release
Attorney Ademi & O’Reilly Investigates Possible Securities Fraud of Carbonite
As Server VM Edition, launched in October 2018, was technically substandard, of poor quality, and being rejected by customers.
July 31, 2019 | Press Release