October 29, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Qlik Technologies Inc (NASDAQ:QLIK) shares over potential securities laws violations by Qlik Technologies and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Qlik Technologies Inc (NASDAQ:QLIK) concerning whether a series of statements by Qlik Technologies Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Qlik Technologies Inc reported that its Total Revenue rose from $226.52 million in 2010 to $388.54 million in 2012 while its Net Income declined from $13.52 million to $3.84 million.
Shares of Qlik Technologies Inc (NASDAQ:QLIK) grew from $12.80 per share in July 2010 to as high as $37.20 per share in September 2013.
Then on 24 October 2013, Qlik Technologies Inc announced financial results for the third quarter ended September 30, 2013. Among other things, Qlik Technologies Inc also issued its guidance for its fourth quarter in 2013 and revised fully year 2013 guidance.
Shares of Qlik Technologies Inc (NASDAQ:QLIK) declined from $33.91 per share on October 24, 2013, to $26.00 per share on October 25, 2013.