January 25, 2017 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of CommVault Systems, Inc. (NASDAQ:CVLT) was announced over potential breaches of fiduciary duties by certain officers and directors at CommVault Systems.
The investigation by a law firm concerns whether certain CommVault Systems officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
CommVault Systems, Inc. reported that its annual Total Revenue declined from $607.54 million for the 12 months period that ended on March 31, 2015 to $595.13 million for the 12 months period that ended on March 31, 2016 and that its Net Income for those respective time period fell from $25.65 million to $0.14 million.
Shares of CommVault Systems, Inc. (NASDAQ:CVLT) grew from $31.45 per share in January 2016 to as high as $57.20 per share in November 2016.
On January 25, 2017, NASDAQ:CVLT shares closed at $56.80 per share.