Compellent Technologies, Inc. hit by investor lawsuit

An investor in Compellent Technologies filed a lawsuit on behalf of investors of Compellent Technologies, Inc. (Public, NYSE-CML) alleging securities laws violations by Compellent Technologies – Deadline: June 11, 2010 - Contact us
By: Shareholders Foundation, Inc.
 
April 15, 2010 - PRLog -- An investor in CML shares filed a lawsuit in United States District Court for the District of Minnesota on behalf of purchasers of the common stock of Compellent Technologies, Inc. (Public, NYSE-CML) between October 28, 2009 and April 7, 2010, over alleged violations of federal securities laws by Compellent Technologies and.

If you purchased Compellent Technologies, Inc. (Public, NYSE-CML) common stock between October 28, 2009 and April 7, 2010, you have certain options and there are shoirt and strict deadlines running. Deadline: June 11, 2010. Those CML investors and those who are current long term investors in CML shares, including those who purchased prior to October 2009, should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1 (858) 779 – 1554.

Compellent Technologies, Inc., located in Eden Prairie, Minnesota, is a provider of enterprise-class network storage solutions that automate the movement and management of data throughout its lifecycle. Compellent Technologies, Inc. reported in 2007 Total Revenue of $51.20million, in 2008 $90.9million, and in 2009 $125.28million.
According to the complaint the plaintiff alleges that Compellent Technologies and certain of its officers and executives violated the Securities Exchange Act of 1934 by failing to disclose material adverse facts about Compellent Technologies true financial condition, business and prospects. On October 28, 2009, Compellent Technologies, Inc announced record third quarter 2009 results sending its shares from nearly $18 per share on Oct. 28, 2009, to over $24 per share in January 2010. But on February 11, 2010, Compellent Technologies announced its Q1 2010 revenue guidance and shares dropped from $21.77 per share on Feb. 11 to $16.44 per share on Feb. 12. On April 7, 2010, Compellent Technologies announced its preliminary financial results for the first quarter of 2010 lowering its Q1 2010 revenue guidance. As a result of this news, so the lawsuit, shares of Compellent Technologies (CML) fell $4.54 per share, or 26%, to close at $13.02 per share, on unusually heavy trading volume.

Those who purchased Compellent Technologies, Inc. (Public, NYSE-CML) common stock between October 28, 2009 and April 7, 2010, have certain options and there are shoirt and strict deadlines running. Deadline: June 11, 2010. Those CML investors and those who are current long term investors in CML shares, including those who purchased prior to October 2009, should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1 (858) 779 – 1554.

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The Shareholders Foundation, Inc. is 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 believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. 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.
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Source:Shareholders Foundation, Inc.
Email:***@shareholdersfoundation.com Email Verified
Zip:92108
Tags:Cml, Compellent, Compellent Technologies, Nyse Cml
Industry:Banking, Business, Financial
Location:San Diego - California - United States
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