IntraLinks Holdings, Inc. Investor Investigation Over Possible Violations Of Securities Laws
San Diego, Nov. 29, 2011 (Shareholders Foundation) -- An investigation on behalf of investors in shares of IntraLinks Holdings, Inc. (NYSE:IL) over possible Violations of Federal Securities Laws was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of IntraLinks Holdings (NYSE: IL) between February 17, 2011 and November 10, 2011 concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements regarding IntraLinks Holdings’ business, its prospects and its operations were potentially materially false and misleading at the time they were made.
While IntraLinks Holdings reported that its annual Revenue increased from $122.71million in 2007 to $184.33million in 2010, however IntraLinks Holdings, Inc. was not able to pull out of its Net loss which ranged from $12.44million to $24.77million.
Shares of IntraLinks Holdings, Inc. (Public, NYSE:IL) rose from $12.32 per share in August 2010 to as high as $31.76 per share in April 29, 2011.
Since April NYSE IL shares fell to recently roughly $5 per share .
In fact, NYSE IL stocks dropped from $8.79 per share on November 8th to as low as $4.80 on Nov. 10, 2011
On November 8, 2011, IntraLinks Holdings, Inc. (NYSE: IL) announced its results for its third quarter of 2011. Among other things, IntraLinks Holdings issued also its fourth quarter 2011 guidance which is below analysts' estimates.