July 12, 2018 Comments (0) Blog, Current Investigations

Tintri Inc. Files Chapter 11 Bankruptcy Protection

Tintri Inc.

Investigating Potential Claims – Tintri Inc.

Are you concerned about your investment in Tintri, Inc.? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against the brokerage firm that sold you the investment.

According to reports, Tintri, Inc. (TNTR, -3.05%) said Tuesday it filed for bankruptcy, just a little over a year after the flash storage company went public.

The company said it will keep operating its businesses as a “debtor-in-possession” under the jurisdiction of the U.S. Bankruptcy Court for the District of Delaware.

Tintri said it has entered into a non-binding letter of intent with DataDirect Networks for the purchase of substantially all of its assets. The company has also reportedly arranged for financing, which is intended to bridge the company to the deal with DataDirect.

According to reports, Trintri’s stock was up 9.1% to 20 cents in Tuesday afternoon trade. The company went public on June 30, 2017 at an initial public offering price of $7.

In March, Tintri announced that both its chief executive and chief financial officer were leaving the company. The company’s stock has plunged 90% over the past three months, while the S&P 500 SPX, -0.54% has gained 5.1%.

Free Consultation with a Securities Attorney

Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Recommendations should be in line with the investor’s age, risk tolerance, net worth, and investment experience.

If you are concerned about your investment in Tintri Inc. would like to speak with a securities attorney about your options, please call The White Law Group at 888-637-5510 for a free consultation.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.