Barracuda Networks Inc (NYSE:CUDA) Investor Investigation Concerning Potential Violations Of Securities Laws Announced

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Company Name(s): 
Barracuda Networks
Affected Securities: 
NYSE: CUDA

October 06, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Barracuda Networks Inc (NYSE:CUDA) shares over potential securities laws violations by Barracuda Networks and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Barracuda Networks Inc (NYSE:CUDA) concerning whether a series of statements by Barracuda Networks regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Barracuda Networks Inc reported that its Total Revenue rose from $233.79 million for the 12 months period that ended on February 28, 2014 to $277.45 million for the 12 months period that ended on February 28, 2015 while its Net Loss for those respective time periods increased from $3.63 million to $67.50 million.

Shares of Barracuda Networks Inc (NYSE:CUDA) grew to as high as $46.12 per share in April 2015. Since then NYSE:CUDA shares lost substantial value.

On September 29, 2015, Barracuda Networks Inc reported its second quarter fiscal 2016 results. On The same day Barracuda Networks Inc also announced that it has entered into an agreement to acquire privately held Intronis, Inc.

Shares of Barracuda Networks Inc (NYSE:CUDA) declined to as low as $23.04 per share on September 29, 2015.