NEW YORK, Aug. 16, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Carbonite, Inc. (NASDAQ: CARB) from February 7, 2019 through July 25, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Carbonite investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than September 30, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to obtain a recovery is not dependent upon being a lead plaintiff. If you wish to join the http://zhanginvestorlaw.com/join-action-form/?slug=carbonite-inc&id=1973 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email firstname.lastname@example.org, email@example.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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