Pivotal Software, Inc. (NYSE: PVTL)
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Hagens Berman Sobol Shapiro LLP alerts investors in Pivotal Software, Inc. (NASDAQ: PVTL) to the August 19, 2019 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Northern District of California.
If you purchased or otherwise acquired securities of PVTL between April 21, 2018 and June 4, 2019 and suffered losses you do not need to sign up to be included in the putative class of investors. If you suffered losses in excess of $50,000, you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. If you wish to serve as a lead plaintiff in this class action contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing PVTL@hbsslaw.com.
According to the complaint, Defendants concealed (1) problems with Pivotal’s sales execution, and (2) sales deferrals, lengthening sales cycles, and diminished growth for the Company’s outdated and sub-standard product platform. In downgrading the shares, Wedbush analyst Daniel Ives called the quarter a “train wreck,” dubbed Pivotal’s deferred revenue and billings numbers “disastrous” and asserted that Pivotal’s “management team does not have a handle on the underlying issues negatively impacting its sales cycles.”
“We’re focused on investors’ losses and whether management misrepresented customer demand for its main Cloud Foundry offering” said Hagens Berman partner Reed Kathrein.
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There is no cost or fee whatsoever involved in participating in this action. In the event Hagens Berman or any other firm obtains a settlement that provides benefits to class members, the court will decide a reasonable fee to be awarded to the class’ legal team. In no case will any class member ever be asked to pay any out-of-pocket sum.
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