Feeds

Legal vultures swoop on Compellent

Claim management misled the markets

3 Big data security analytics techniques

Compellent is being investigated by a law firm about potentially false and misleading statements that violated US federal securities laws.

Compellent announced record third quarter 2009 results on October 28, 2009, sending its shares from nearly $18 per share to over $24 in January 2010. But on February 11 2010 it announced its Q1 2010 revenue guidance and shares dropped from $21.77 per share to $16.44 a day later. Then on April 07 2010 Compellent lowered its Q1 2010 revenue guidance. Shares dropped after the news from $17.50 to $13.20 the next day.

Today they are trading at $12.14, having almost halved in value.

The law firm Holzer Holzer & Fistel, LLC, is investigating potential violations of the federal securities laws by Compellent. Its investigation focuses on whether a series of statements regarding Compellent’s business, prospects and operations were materially false and misleading at the time they were made. Bring on the eDiscovery software.

Investors are separately being encouraged to contact the Shareholders Foundation, an investor advocacy group which researches shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal matters. It too claims to have detected a whiff of possible materially false and misleading statements by Compellent management.

The Shareholders Foundation is comprised of a network of legal experts who represent the shareholders in real cases.

STEC is another storage firm with strong investor dissatisfaction and is facing class action law suits of its own. These suits claim its management made false and misleading statements about business prospects when competing solid state drive (SSD) suppliers were making inroads into its customers, and that the largest customer, EMC, had over-ordered STEC product leading to revenue falls. ®

SANS - Survey on application security programs

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Bored with trading oil and gold? Why not flog some CLOUD servers?
Chicago Mercantile Exchange plans cloud spot exchange
Just what could be inside Dropbox's new 'Home For Life'?
Biz apps, messaging, photos, email, more storage – sorry, did you think there would be cake?
IT bods: How long does it take YOU to train up on new tech?
I'll leave my arrays to do the hard work, if you don't mind
Amazon reveals its Google-killing 'R3' server instances
A mega-memory instance that never forgets
Cisco reps flog Whiptail's Invicta arrays against EMC and Pure
Storage reseller report reveals who's selling what
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.