logo
Share SHARE
FONT-SIZE Plus   Neg

Faruqi & Faruqi Is Investigating Potential Securities Fraud At Envivio

National securities law firm Faruqi & Faruqi, LLP said it is investigating potential securities fraud at Envivio, Inc. (ENVI).

According to the law firm, the investigation focuses on whether the company and its executives violated federal securities laws by failing to disclose that: (1) Envivio's largest customers did not view the company's services as a priority and were uninterested in increasing their demand for Envivio services to the extent represented; (2) the company was experiencing lengthening sales cycles for closing new business; (3) the company was struggling to maintain a competitive advantage due to the technologies of its rival, Harmonic Inc.; and (4) considering that the company's business was not growing as quickly as represented, the company's past revenue results were not indicative of Envivio's future financial operations.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Best Buy Co., Inc. (BBY) reported first-quarter non-GAAP earnings per share from continuing operations of $0.44, an increase of 19% from $0.37, a year ago. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $0.35 for the quarter. Analysts' estimates typically... Automotive parts retailer AutoZone, Inc. on Tuesday reported a 6 percent increase in profit for the third quarter from last year, reflecting growth in sales and higher inventory on new store openings. However, both revenue and earnings per share for the quarter missed analysts' expectations. Toll Brothers, Inc. (TOL), the nation's leading builder of luxury homes, reported second-quarter net income of $89.1 million, or $0.51 per share, compared to $67.9 million, or $0.37 per share, prior year. Pre-tax income increased to $140.4 million from $86.5 million. On average, 18 analysts polled by...
comments powered by Disqus
Follow RTT