|Company Name||Apigee Corporation|
The Firm announces an investigation on behalf of investors of Apigee Corporation (“Apigee” or the “Company”) (NASDAQ: APIC) concerning the Company and its officers’ possible violations of federal securities laws. GPM is preparing a lawsuit on behalf of injured investors.
Apigee creates tools for developers and also sells to enterprises an application programmable interface (API) platform.
On April 24, 2015, Apigee sold 5.1 million shares during its initial public stock offering (the "IPO"), raising $87 million. However, after disclosing poor results over the following financial periods, Apigee's stock has dropped drastically in value, closing on January 27, 2016 at a price of $7.97 per share. This represents a decline of 60% from the IPO price. The investigation concerns whether the Company failed to disclose to investors that the Company faced direct competition from Amazon.com that threatened Apigee’s cloud infrastructure products; whether the Company 2Q 2015 revenues included an unusually large transaction that was not recurring; and, whether various market forces were lowering the demand for Apigee’s products and jeopardizing the Company’s revenues and profitability.
If you purchased Apigee securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224 or by email to firstname.lastname@example.org.
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If you suffered a loss on your Apigee Corporation investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.
An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.