MINNEAPOLIS, June 21, 2007 (PRIME NEWSWIRE) -- Charles H. Johnson & Associates announces that a class action has been commenced in the United States District Court for the District of Maryland on behalf of purchasers of Sourcefire, Inc. ("Sourcefire" or the "Company") (Nasdaq:FIRE) publicly traded securities during the period March 9, 2007 through April 9, 2007 (the "Class Period").
If you are a member of the proposed Class, you may move the court to serve as a lead plaintiff for the Class on or before July 13, 2007. You do not need to be a lead plaintiff in order to share in any recovery that may be obtained.
The Complaint alleges that Sourcefire and certain of its officers and directors violated Federal Securities laws by issuing false and misleading statements in the Registration Statement issued in connection with its IPO of 5,770,000 shares at $15.00 per share for estimated net proceeds of $71.8 million. Specifically, defendants failed to reveal, at the time of the IPO, that Sourcefire's federal government business had materially slowed due to lower federal government spending, negatively impacting financial results.
On April 6, 2007, Sourcefire announced preliminary results for the first quarter that were lower than expected. Then on April 9, 2007, Sourcefire admitted that "a number of delays in the processing of awarded procurement transaction" from federal government had negatively impacted its financial results. On this news, Sourcefire's stock declined from $17.35 per share on April 5, 2007 to close at $12.28 per share on April 9, 2007.
If you purchased Sourcefire, Inc. securities during the Class Period, or have any questions concerning this notice or your rights with respect to this matter, please contact:
Neal Eisenbraun, Esq. (cjohnsonlaw@gmail.com) Charles H. Johnson & Associates 2599 Mississippi Street New Brighton, MN 55112 (651) 633-5685