Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Nimble Storage, Inc. (“Nimble Storage” or the “Company”) (NYSE: NMBL) securities between May 27, 2015 and November 19, 2015, inclusive (the “Class Period”). Investors who suffered losses of over $100,000 on their investment in Nimble Storage securities are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action.

On November 19, 2015, the Company issued a press release announcing its third quarter 2015 results. Nimble Storage reported a non-GAAP operating loss of $10.8 million and a GAAP net loss of $28.6 million. The Company attributed the poor results to a “shift in investment from commercial to enterprise business” that impacted the Company’s commercial revenue growth more than anticipated.

On this news, Nimble Storage shares fell $10.34 per share, or 51%, to close at $10.05 per share on November 20, 2015, thereby injuring investors. Company executives, directors and other insiders profited through the sale of their shares to an unsuspecting market, immediately prior to the November 19, 2015 disclosure that the Company would not meet its sales projections. To wit in the last 3 months insiders sold 12,689,285 Nimble Storage shares while they affirmed their projections.

According to the complaint, the Company failed to disclose that: (1) Nimble was being negatively impacted by intense competition from strong competitors who were reducing prices in order to maintain market share, (2) Nimble had made a conscious decision to focus its sales and marketing efforts towards the large enterprises market and to reduce sales efforts in the U.S. commercial market, and (3) due to this change in sales strategy and the intense price competition, Nimble was losing sales in both sales channels.

If you purchased shares of Nimble Storage during the Class Period you may move the Court no later than February 15, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you 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.

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