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Construction Industry and Laborers Joint Pension Trust et al v. Carbonite, Inc. et al

  1. January 31, 2024

    Carbonite Inks $27.5M Deal To End Stock-Drop Investor Suit

    Data backup provider Carbonite Inc. has agreed to pay $27.5 million to a certified class of investors alleging the company overhyped a product that was later pulled from the market, according to a motion to approve the deal filed in Massachusetts federal court on Wednesday.

  2. September 12, 2023

    Data Co. Says 2nd Circ. Goldman Ruling Backs Its Decert. Bid

    Data backup provider Carbonite Inc. has urged a Massachusetts federal judge to decertify a class of investors claiming the company overhyped a product that was later pulled from the market, arguing that a recent Second Circuit decision supports its assertion that the investors failed to show how any of the alleged misstatements affected the company's stock price.

  3. July 14, 2023

    Robbins Geller To Lead Carbonite Stock-Drop Class Suit

    Robbins Geller Rudman & Dowd LLP will lead a newly certified class action by Carbonite Inc. investors who say they were misled into buying shares by hype over what turned out to be an irredeemably flawed data backup system that the company eventually pulled from the market, a Massachusetts federal judge ruled Friday.

  4. October 23, 2020

    Carbonite Dodges Securities Suit Over Dud Software

    Carbonite Inc. escaped a stock suit for good Thursday claiming it lied to investors by launching a data-backup product it knew would never work, artificially boosting the Boston firm's share price until it finally gave up on the product.