Gilman Law LLP, A National Law Firm Representing Victims of Securities Fraud, Is Actively Investigating A Class Action Lawsuit On Behalf of Investors of IntraLinks Holdings, Inc.
Gilman Law LLP, a leading national securities law firm, is actively investigating shareholder allegations that IntraLinks Holdings, Inc. (“IntraLinks” or the “Company”) and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to the company’s business and operations in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1940 and Rule 10-5 promulgated thereunder.
If you purchased or otherwise acquired the stock of IntraLinks (NYSE: IL) during the period between February 17, 2011 and November 10, 2011, inclusive (the “Class Period”) and either lost money on the transaction or still hold the shares, you may contact Gilman Law LLP by February 3, 2012 to discuss your rights, including as to recovery of your losses or to obtain additional information.
Headquartered in New York, IntraLinks provides on-demand solutions for businesses to securely collaborate, communicate and exchange critical information. On May 11, 2011 IntraLinks issued a press release announcing its financial results for the first quarter of 2011 and reduced its full year 2011 income estimates from $21 million to $23 million, to $17 million to $19 million. The Company also revealed to investors on a conference call that the downward revision was due to a large Enterprise customer drastically reducing its use of IntraLinks’s products. As a result, IntraLinks shares fell 40.58% to $20.22 per share.
Then, on August 10, 2011, the United States Securities and Exchange Commission (“SEC”) issued a subpoena on IntraLinks requesting documents about the Company’s business during 2011. In response to this news, IntraLinks shares fell another 45%. In addition, IntraLinks issued another press release on November 8, 2011 reporting a third quarter per share earnings of $0.11 below the $0.12 analyst estimate due to continuing problems in its Enterprise business segment. The next trading day, shares of IntraLinks fell 37%.
Subsequently, a class action lawsuit was filed in the United States District Court for the Southern District of New York to benefit IntraLinks investors who acquired the Company’s shares between February 17, 2011 and November 10, 2011. If you wish to join the IntraLinks class action lawsuit, please complete the form above or contact Gilman Law LLP at (888) 252-0042.
For over 40 years, the lawyers at Gilman Law have extensive experience representing both individual and institutional investors in securities have been involved in all major aspects of securities fraud litigation. The firm specializes in cases involving stock manipulation, securities fraud, and shareholder rights violations. Gilman Law is ready to assist investors nationwide who have sustained losses as a result of IntraLinks’ alleged fraud. For a free evaluation of your case, please complete our free consultation form or contact Gilman Law TOLL FREE at (888) 252-0048.