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Mobileiron Inc (NASDAQ:MOBL) Investor Alert: Lawsuit Alleges False and Misleading Statements

Via: ReleaseWire

Updated 8:00 AM CDT, Tue, May 05,2015

A lawsuit was filed on behalf of investors in Mobileiron Inc (NASDAQ:MOBL) shares over alleged securities laws violations and NASDAQ:MOBL investors should contact the Shareholders Foundation.

San Diego, CA -- (ReleaseWire) -- 05/05/2015 -- An investor, who purchased shares of Mobileiron Inc (NASDAQ:MOBL), filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Mobileiron Inc in connection with certain allegedly false and misleading statements made between February 13, 2015 and April 22, 2015.

Investors who purchased shares of Mobileiron Inc (NASDAQ:MOBL) have certain options and for certain investors are short and strict deadlines running. Deadline: June 30, 2015. NASDAQ:MOBL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Mobileiron Inc (NASDAQ:MOBL) common shares between February 13, 2015 and April 22, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Mobileiron Inc and certain of its officers and directors issued certain materially false and misleading statements about the Company's true financial condition and prospects.

Mobileiron Inc, formerly Mobile Iron, Inc went public in June 2014 and shares of Mobileiron Inc (NASDAQ:MOBL) traded in early September 2014 as high as $12.05 per share.

On Feburary 12, 2015, Mobileiron Inc announced its fiscal fourth quarter and full year 2014 financial results. Mobileiron Inc reported that annual total Revenue rose from $105.57 million in 2013 to $132.29 million in 2014 while its Net Loss increase dfrom $32.50 million to $61.89 million. Mobileiron Inc also provided an outlook for its fiscal first quarter 2015. Among other things, Mobileiron Inc said that it expects tha its total billings are to be between $40 million and $42 million and that its total non-GAAP revenue is to be between $34 million and $37 million, and GAAP revenue is to be between $34.8 million and $37.8 million.

Then on April 22, 2015, Mobileiron Inc announced preliminary financial results for its first quarter of 2015. Mobileiron Inc said that gross billings for the quarter are expected to be in the range of $35.5-$37.0 million, below the company's guidance of $40.0-$42.0 million and that total non-GAAP revenue is expected to be between$32.0-$33.0 million, compared to guidance of $34.0-$37.0 million.

Shares of Mobileiron Inc (NASDAQ:MOBL) declined to as low as $6.02 per share on April 23, 2015.

Those who purchased shares of Mobileiron Inc (NASDAQ:MOBL) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.releasewire.com/press-releases/mobileiron-inc-nasdaqmobl-investor-alert-lawsuit-alleges-false-and-misleading-statements-596208.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com