Blue Coat Systems, Inc. hit by Investor Lawsuit over alleged Securities Laws Violations

Sept. 21, 2011 - PRLog -- An investor in shares of Blue Coat Systems, Inc.  filed a lawsuit in the U.S. District Court for the Northern District of California against Blue Coat Systems over alleged Violations of Federal Securities Laws.

If you purchased shares of Blue Coat Systems, Inc. (NASDAW: BCSI) between November 24, 2009 and May 27, 2010, you have certain options and there are strict and short deadlines running. Deadline: Oct. 28, 2011. NASDAQ- BCSI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of those purchasing the common stock of Blue Coat Systems, Inc. (NASDAW: BCSI) between November 24, 2009 and May 27, 2010, that Blue Coat Systems and certain of its officers violated the Securities Exchange Act of 1934 by issuing allegedly false and misleading statements.
Blue Coat Systems’ 12months Total Revenue rose from $305.44million reported on April 30, 2008 to $487.11million reported on April 30, 2011 and its Net Income increased over the same time frame from $32.57million to $43.16million.

Shares of Blue Coat Systems, Inc.  increased from as low as $7.50 per share to over$35.47 per share in April 2010.
Then on May 27, 2010, so the lawsuit, defendants announced after the close of trading that the demand for Blue Coat Systems' product and services offerings had significantly weakened in "almost every country in Europe" and defendants also disclosed that Blue Coat System had been unable to close multiple sales in Europe.

Since April 2010 BCSI stocks fell from over $35 per share to recently $14.90 per share.

Those who purchased shares of Blue Coat Systems, Inc. (NASDAW: BCSI) between November 24, 2009 and May 27, 2010, have certain options and there are strict and short deadlines running. Deadline: Oct. 28, 2011. NASDAQ- BCSI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

# # #

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. 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.