NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with losses in excess of $100,000 that they have only until September 30, 2019 to file lead plaintiff applications in a securities class action lawsuit against Carbonite, Inc. (NasdaqGM: CARB). Investor losses must relate to purchases of the Company’s shares between February 7, 2019 and July 25, 2019. This action is pending in the United States District Court for the District of Massachusetts.
What You May Do
If you purchased shares of Carbonite and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgm-carb/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by September 30, 2019.
About the Lawsuit
On July 25, 2019, the Company disclosed that it was pulling its premier “Server Backup VM Edition” software product from the marketplace, significantly reducing its financial projections for fiscal 2019 and 2020, and that its CEO had resigned. On this news, the price of Carbonite’s shares plummeted nearly 25%, wiping out over $200 million in market capitalization.
The case is Luna v. Carbonite, Inc. et al., 1:19-cv-11662.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447