STEVENSON, Md., Aug. 2, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Vocera Communications, Inc. ("Vocera" or the "Company") (NYSE:VCRA) securities during the period between March 28, 2012 and May 3, 2013, inclusive (the "Class Period"), and/or pursuant or traceable to the registration statement issued in connection with the Company's initial public offering on March 28, 2012 (the "IPO").
If you have suffered a net loss from investment in Vocera Communications, Inc. securities purchased pursuant or traceable to the Company's IPO and/or after March 28, 2012 and held through the revelation of negative information on May 2, 2013, as described below, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at [email protected], by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than September 30, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Act of 1933 and the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose the severity of the negative impact that healthcare reform and the federal budget sequestration were having on sales of the Company's communication products to hospitals. According to the complaint, following the Company's May 2, 2013 disclosure that its financial results for the first quarter 2013 were significantly worse than expected and that it was sharply reducing its previously stated revenue guidance for full-year 2013, the value of Vocera shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation