Investor Action Brings Cloud Computing Co. Down To Earth

Law360, New York (December 6, 2011, 6:58 PM EST) -- Top executives at IntraLinks Holdings Inc. allegedly inflated the cloud computing company's stock price by hiding problems from the public and profited in the scheme by selling their own shares before the problems became known, according to a proposed shareholder class action filed Monday.

IntraLinks shareholder William D. Wallace alleges in a complaint filed in New York federal court that IntraLinks President and CEO J. Andrew Damico and CFO Anthony Plesner, over the course of 2011, repeatedly concealed information from stockholders, including a decline in one...
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