Violations of federal securities laws as a result of a series of materially false statements. According to the Complaint, MobileIron and certain of its officers and directors issued materially false and misleading statements about the Company's true financial condition and prospects. On April 22, 2015, MobileIron lowered its first quarter 2015 revenue guidance to $32-$33 million from its prior revenue guidance of $34-$37 million, and attributed the revision to a shift in customers utilizing its subscription-based services. On this news, shares of MobileIron fell $2.39 per share, or by more than 25% from its previous closing price, to close at $7.11 per share on April 23, 2015, damaging investors. Filed in N.D. Cal.
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