SAN DIEGO, CA / ACCESSWIRE / April 9, 2018 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of Extreme Networks, Inc. (NASDAQ: EXTR).

Investors, who purchased shares of Extreme Networks, Inc. (NASDAQ: EXTR) in October 2013 or earlier and continue to hold any of those NASDAQ: EXTR shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On October 23, 2015, a lawsuit was filed against Extreme Networks, Inc. over alleged securities laws violations. The plaintiff alleged that the defendants issued allegedly false and/or misleading statements and/or allegedly omitted adverse information concerning Extreme Networks' current financial condition and outlook for fiscal 2015, including, among other things, that Extreme Networks' revenue growth depended on the successful integration of Enterasys Networks, Inc., which Extreme Networks had acquired in 2013 but had not successfully integrated, which materially impaired the Company's ability to address persisting sales problems. In addition, the plaintiff alleged that Extreme Networks had begun an alliance with Lenovo, but between November 4, 2013 and April 9, 2015 defendants did not have sufficient visibility into Lenovo's server business plans to support the Company's quarterly and fiscal 2015 financial forecasts. The plaintiff said that as a result of these alleged misrepresentations and/or omissions, Extreme Networks' stock traded at artificially inflated prices between November 4, 2013 and April 9, 2015, reaching a high of $8.14 per share in intraday trading on January 23, 2014.

On September 26, 2016, an amended complaint was filed and on November 10, 2016, the defendants filed their motion to dismiss. On April 27, 2017, the court granted the defendants' motion to dismiss with leave to amend the complaint. On June 2, 2017, an amended complaint was filed and on July 10, 2017, the defendants filed their motion to dismiss the case. On March 21, 2018, the court denied in part the defendants' motion to dismiss the case.

Those who purchased Extreme Networks, Inc. (NASDAQ: EXTR) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.