DALLAS, Dec. 9, 2011 /PRNewswire/ -- Former United States Securities and United States Securities and Exchange Commission attorney [ Willie Briscoe ], founder of [ The Briscoe Law Firm, PLLC ], and the securities litigation firm of [ Powers Taylor, LLP ] announce that the firms are investigating legal claims against the officers and Board of Directors of IntraLinks Holdings, Inc. ("IntraLinks Holdings" or "IL") (NYSE: [ IL ]) related to potential securities violations by IntraLinks Holdings between February 17, 2011 and November 10, 2011 (the "Class Period").

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If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

On December 5, 2011, IntraLinks Holdings and certain of its officers and directors were charged with violating the Securities Act of 1934. According to former SEC attorney and shareholder advocate Willie Briscoe, "Based on charges that IntraLinks Holdings and certain officers and directors of IL allegedly misrepresented that IntraLinks Holdings was experiencing a slowdown in its Enterprise business segment, and other allegations, the firms have commenced an investigation to uncover possible breaches of fiduciary duties and other violations of state law by the officers and directors."

The complaint alleges that during the Class Period defendants issued materially false and misleading statements misrepresenting the robustness of the sales of IntraLinks Holdings' products and failing to disclose the fact that IntraLinks Holdings was experiencing a substantial slowdown in its Enterprise business segment from decreased customer demand. On May 11, 2011, IntraLinks Holdings finally disclosed that it would be curtailing its projected earnings, largely based on the decrease in demand for IntraLinks Holdings' products by a key customer of the company's Enterprise business segment. On August 10, 2011, the SEC issued a subpoena requiring that IntraLinks Holdings disclosure certain business documents. And finally, on November 8, 2011, IntraLinks Holdings disclosed additional ongoing business issues with its Enterprise business segment.

As a result of defendants' misrepresentations and failures to disclose material facts about IntraLinks Holdings' business and prospects, it is alleged that IntraLinks Holdings' shares traded at artificially high prices during the Class Period. Once defendants finally disclosed the true, adverse facts related to the company's business prospects, IntraLinks Holdings shares declined from $29.99 per share on May 10, 2011 to $4.80 per share on November 10, 2011.

[ The Briscoe Law Firm, PLLC ] is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

[ Powers Taylor, LLP ] is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

SOURCE Powers Taylor, LLP

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The Briscoe Law Firm and Powers Taylor LLP Announce Investigation of Possible Breaches of Fiduciary Duty by the Officers and Di

IntraLinks Holdings, Inc. Investor Alert: The Briscoe Law Firm and Powers Taylor LLP Announce Investigation of Possible Breaches of Fiduciary Duty by the Officers and Directors of IntraLinks Holdings, Inc.