Blue Coat Systems, Inc. Under Investor Investigation Over Potential Securities Laws Violations

If you purchased Blue Coat Systems, Inc. (NASDAQ: BCSI) common stock between November 24, 2009 and May 27, 2010, and/or if you have any information relating the investigation including also whistleblowers and former employees, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Blue Coat Systems
Affected Securities: 
NASDAQ: BCSI

An investigation for investors of Blue Coat Systems, Inc. (NASDAQ:BCSI) over possible violations of Federal Securities Laws by Blue Coat Systems, Inc. was announced.

The investigation by a law firm focuses on whether a series of statements regarding Blue Coat Systems’ business, its prospects and its operations were materially false and misleading between November 24, 2009 and May 27, 2010.
Blue Coat Systems 12months Total Revenue went from $177.7million reported on April 30, 2007 to $496.14million reported on April, 30, 2010. Its Net Income went over the same time frame from a Net Loss of $7.20million reported in April 2007 to a Net Income of $42.88million reported in April 2010. Specifically, the investigation focuses on, among other things, whether Blue Coat Systems, Inc. improperly concealed weakening demand for its products.

Shares of Blue Coat Systems, Inc. (NASDAQ:BCSI) traded in 2006 as low as $6.62pershare and then increased to $42.49 per share in August 2007. Shares of Blue Coat Systems, Inc. (NASDAQ:BCSI) split 2:1 on October 4. In the following decreased to as low as $7.39 in December 08. BCSI share rose throughout 2009 from under $10 to $25 in October 09.

On November 29, 2009 Blue Coat Systems, Inc. (Nasdaq: BCSI) reported its financial results for its second fiscal quarter ended October 31, 2009. On February 23, 2010, Blue Coat Systems, Inc. (Nasdaq: BCSI) reported its financial results for its third fiscal quarter ended January 31, 2010. BCSI shares continued to increase to over $35 in April 2010.

But then on May 27, 2010 Blue Coat Systems, Inc. (Nasdaq: BCSI) reported its financial results for its fourth fiscal quarter and fiscal year ended April 30, 2010 and BCSI shares fell from $28.84 per share on May 27 to $21.47 per share on May 28. Over the next three months BCSI shares fell to as low as $17.50 per share on August 20, 2010.

Since then BCSI shares regained value and recently traded at $30.27 per share.