Tintri, Inc.
Company Name | Tintri, Inc. |
Stock Symbol | TNTR |
Class Period | November 17, 2017 to - |
Lead Plaintiff Motion Deadline | November 17, 2017 |
On June 30, 2017, the Company commenced its initial public offering of shares for $7.00 per share.
On September 7, 2017, Tintri announced its second quarter results, reporting revenue at the low end of analysts’ expectations and weaker than expected third quarter guidance. The Company now projects revenues to increase just slightly quarter over quarter to $36-$37 million compared to expectations of $42.5 million.
On this news, Tintri’s stock price fell over 31% to close at $4.55 per share on September 8, 2017.The complaint filed in this class action alleges that defendants, in connection with Tintri’s IPO, made false and/or misleading statements and/or failed to disclose that: (1) Tintri experienced distraction, disruption, and sales attrition during its IPO; and (2) as a result, defendants’ statements about Tintri’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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