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Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Silicon Graphics International Corp (NASDAQ: SGI) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Silicon Graphics International Corp (NASDAQ: SGI) concerning whether a series of statements by Silicon Graphics International Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On January 27, 2016, Silicon Graphics restated its revenue outlook for fiscal year 2016 in the range of $600 to $625 million. On April 27, 2016, Silicon Graphics lowered its revenue outlook for fiscal year 2016, citing postponements its federal business. The Company also announced that its President and Chief Executive Officer, Jorge Titinger, suggested that the delays in federal business “are significantly impacting” the Company’s outlook for fiscal 2016.
On this news, NASDAQ: SGI shares fell 34.19% on April 28, 2016.
Based in Milpitas, VA, and founded in 2002 Silicon Graphics International Corp is engaged in developing, marketing, and selling various servers, enterprise-class storage hardware, differentiating software, and solutions.
If you purchased shares of Silicon Graphics International Corp (NASDAQ: SGI) on or before April 27, 2016,, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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