Mellanox Technologies, Ltd. : Law Offices of Howard G. Smith Announces Investigation On Behalf of Investors of Mellanox Technologies, Ltd.
02/12/2013| 08:35pm US/Eastern
Recommend:
Law Offices of Howard G. Smith announces that it is investigating
potential claims against Mellanox Technologies, Ltd. ("Mellanox" or the
"Company") (NASDAQ:MLNX) concerning possible violations of federal
securities laws. The investigation focuses on allegations that certain
statements issued by Mellanox between April 19, 2012 and January 2, 2013
were false and misleading concerning the Company's financial performance
and prospects. Mellanox produces and supplies high-performance
interconnect products that facilitate efficient data transmission
between servers, storage systems and communications infrastructure
equipment and other embedded systems.
The investigation is related to Mellanox's January 2, 2013 announcement
lowering the Company's fourth quarter 2012 revenue guidance. Citing "a
weaker demand environment, challenging macroeconomic conditions, and a
technical issue associated with FDR 56Gb/s InfiniBand cabling which
caused approximately $20 million of FDR deployments to be delayed" the
Company revised its fourth quarter financial outlook to a range of $119
million to $121 million, sharply below the Company's previous guidance
of $145 million to $150 million.
As a result of this news, the Company's stock price dropped more than
17%, or $10.46 per share, to a closing price of $50.70 per share on
January 3, 2013 on heavy volume of more than 8.2 million shares traded.
If you purchased Mellanox common stock between April 19, 2012 and
January 2, 2013, if you have information or would like to learn more
about these claims, or if you wish to discuss these matters or have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Howard G. Smith, Esquire, of
Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888)
638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215)
638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
© Business Wire 2013
Recommend :
