Bottini & Bottini filed a shareholder class action on Nov. 22, 2013 in the Superior Court of California for the County of San Mateo on behalf of shareholders who bought stock in Envivio traceable to the Company's April 24, 2012 IPO.
After surviving defendants' demurrers, certifying the class, and engaging in substantial discovery, the case was settled for $8.5 million in January 2015. The settlement was approved by the Hon. Marie Seth Weiner and a final judgment was entered on June 22, 2015.