An investigation for investors in Ellie Mae Inc (NYSE:ELLI) shares over potential securities laws violations by Ellie Mae Inc was announced.
San Diego, CA -- (SBWIRE) -- 09/19/2017 -- An investigation was announced for investors in Ellie Mae in connection with certain financial statements made by Ellie Mae.
Investors who purchased shares of Ellie Mae Inc (NYSE:ELLI), have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm focuses on whether certain statements by Ellie Mae Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Shares of Ellie Mae Inc (NYSE:ELLI) grew from $80.20 per share in late 2016 to as high as $113.99 per share on July 25, 2017.
On July 27, 2017, Ellie Mae, Inc reported its second quarter 2017 financial results for the period ended June 30, 2017. Ellie Mae, Inc reported that its revenue came in at $104.1 million, well below guidance. Additionally, Ellie Mae, Inc lowered its FY17 sales forecast and disclosed that FY17 adjusted income would come in almost 40% lower than the range that Ellie Mae Inc had previously provided.
Shares of Ellie Mae Inc (NYSE:ELLI) declined to as low as $79.80 per share on August 21, 2017.
Those who purchased shares of Ellie Mae Inc (NYSE:ELLI) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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