The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Carbonite, Inc. (NASDAQGM: CARB) who purchased shares between February 7, 2019 and July 25, 2019. The action, which was filed in the United States District Court for the District of Massachusetts, alleges that the Company violated federal securities laws.
In particular, the Carbonite, Inc. lawsuit alleges that (i) Carbonite’s Server Backup VM Edition was of poor quality and technologically flawed; (ii) Carbonite was receiving poor reviews and complaints from customers about the Server Backup VM Edition; (iii) the poor quality and technological flaws of the Server Backup VM Edition was 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 (iv) as a result of the foregoing, Carbonite lacked any reasonable basis for issuing its positive projections and financial forecasts.
Shareholders have until September 30, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
Please fill out the form to learn more