San Diego, CA -- (SBWIRE) -- 12/09/2013 -- An investigation on behalf of investors of Rally Software Development Corp (NYSE:RALY) shares over potential securities laws violations by Rally Software Development and certain of its directors and officers in connection certain financial statements was announced.

Investors who purchased shares of Rally Software Development Corp (NYSE:RALY) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Rally Software Development Corp (NYSE:RALY) concerning whether a series of statements by Rally Software Development regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Rally Software Development Corp reported that its Total Revenue rose from $41.33 million for the 12 months period that ended on Jan. 31, 2012 to $56.85 million for the 12 months period that ended on Jan. 31, 2013 and that its respective Net Loss declined from $11.59 million to $10.78 million. For its first fiscal 2014 quarter Rally Software Development Corp reported that its quarterly Revenue rose to $16.05 million, compared to $15.49 million for the last quarter in its Fiscal 2013. For the second quarter in its Fiscal 2014 Rally Software Development Corp reported another increase in its quarterly Revenue to $19.80 million and a declined in its second fiscal 2014 quarter Net Loss to $2.28 million, compared to its first fiscal 2014 quarter Net Loss of $5.79 million.

Shares of Rally Software Development Corp rose from $17.16 per share in April 2013 to as high as $32.45 per share in September 2013.

Then on December 5, 2013, Rally Software Development Corp announced its third quarter fiscal 2014 financial results. Among other things, Rally Software Development Corp issued its business outlook for the fourth quarter of Fiscal 2014 and its Fiscal Year 2014.

Shares of Rally Software Development Corp dropped from $25.42 per share on December 5, 2013, to $18.676 per share on December 6, 2013.

Those who purchased shares of Rally Software Development Corp (NYSE:RALY), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com