MobileIron, Inc. Shareholder Litigation
HomeCase DocumentsContact UsFile Claim

Welcome to the MobileIron, Inc. Shareholder Litigation Website

This website has been established to provide general information regarding the proposed settlement (the "Settlement") of the action entitled In re MobileIron, Inc. Shareholder Litigation, Case No. 1-15-284001 (the "Litigation"). This Litigation is pending before the Superior Court of the State of California, County of Santa Clara (the "Court"). The capitalized terms used on this website and not defined shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated May 23, 2017, which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected by the Settlement if you purchased MobileIron, Inc. ("MobileIron" or the "Company") common stock pursuant and/or traceable to the Registration Statement and Prospectus (the "Registration Statement") for the Company’s June 12, 2014 initial public offering (the "IPO").

As more fully described in the Notice of Proposed Settlement of Class Action (the "Notice"), on August 5, 2015, Warren Schneider filed a complaint in the Court for alleged violations of the federal securities laws against Defendants and the underwriters of MobileIron’s June 12, 2014 IPO (the “Schneider Action”). On August 21, 2015, Jay Kerley filed a complaint in the Court asserting the same or similar claims arising out of MobileIron’s IPO and asserting those claims against the same defendants in the Schneider Action as well as Storm Venture Associates III, L.L.C., NVP Associates, LLC and Does 1-25 (the “Kerley Action”). On August 24, 2015, Chaile Steinberg filed a complaint in the Court asserting the same or similar claims, against the same individuals and entities (the “Steinberg Action”).

Each action alleged that the Registration Statement issued in connection with MobileIron’s June 12, 2014 IPO contained materially incorrect or misleading statements and/or omitted material information in violation of the Securities Act of 1933 (the “Securities Act”).

On September 25, 2015, certain defendants removed the Schneider Action, Kerley Action and Steinberg Action to the United States District Court for the Northern District of California. On September 28 and 29, 2015, plaintiffs in the Schneider Action, Kerley Action and Steinberg Action filed motions to remand the cases to the Court, and on November 30, 2015, the actions were remanded. Following remand, the parties agreed to mediate the actions, but those efforts were unsuccessful.

Plaintiffs filed the Corrected Consolidated Complaint for Violations of the Securities Act (the “Complaint”) on April 12, 2016, and Defendants filed their demurrer on August 8, 2016. Plaintiffs opposed the demurrer, and the parties appeared before the Court for oral argument on September 30, 2016. The Court overruled the demurrer to the Complaint’s claims under Sections 11 and 15 of the Securities Act and sustained the demurrer to the claim under Section 12 of the Securities Act with leave to amend. Plaintiffs filed an Amended Complaint on October 21, 2016. Defendants answered the Amended Complaint on November 28, 2016.

The parties thereafter agreed to attend a subsequent mediation session conducted by a third-party neutral mediator, the Hon. Layn R. Phillips (Ret.). In advance of the mediation, the parties voluntarily exchanged non-public documents, which were reviewed and analyzed. Plaintiffs and Defendants then submitted and exchanged mediation statements summarizing their respective positions. The mediation session was held on February 23, 2017.  While the Settling Parties did not reach an agreement to settle the Litigation at the mediation, the Settling Parties continued their negotiations through Judge Phillips. These efforts culminated with the Settling Parties agreeing to settle the Litigation for $7,500,000 in cash.

The Settlement, if approved, will result in the creation of a cash settlement fund of $7,500,000 (the “Settlement Amount”). The Settlement Amount, plus accrued interest (the “Settlement Fund”) and minus the costs of the Notice and all costs associated with the administration of the Settlement, as well as any attorneys’ fees and expenses that may be approved by the Court, will be distributed to eligible Class Members pursuant to the Plan of Allocation that is described in the Notice.

The law firms of Robbins Geller Rudman & Dowd LLP, Scott+Scott, Attorneys at Law, LLP, Robbins Arroyo LLP and Johnson & Weaver, LLP represent you and other Class Members. These lawyers are called Plaintiffs’ Counsel. These lawyers will apply to the Court for payment of attorneys’ fees and expenses from the Settlement Fund; you will not be otherwise charged for their work. If you want to be represented by your own lawyer, you may hire one at your own expense.

Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A PROOF OF CLAIM POSTMARKED NO LATER THAN NOVEMBER 6, 2017 The only way to get a payment.
EXCLUDE YOURSELF FROM THE CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION POSTMARKED NO LATER THAN JULY 19, 2017 Get no payment. This is the only option that allows you to ever be part of any other lawsuit against the Defendants and their Related Persons relating to the claims in this case.
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTON POSTMARKED NO LATER THAN JULY 19, 2017 Write to the Court about why you don't like the Settlement.
GO TO A HEARING ON AUGUST 18, 2017 AT 9:00 A.M. Speak in Court about the fairness of the Settlement.
DO NOTHING Get no payment. Give up your rights.

DEADLINES

Submit a Claim Form: November 6, 2017
Request Exclusion: July 19, 2017
File an Objection: July 19, 2017
Court Hearing on Fairness of Settlement: August 18, 2017 at 9:00 a.m.