SAN FRANCISCO, July 08, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, with nine offices in eight cities around the country and eighty attorneys, reminds investors in Pivotal Software AG , Inc. (NYSE: PVTL) of the August 19, 2019 Lead Plaintiff deadline in the securities class action, Doherty v. Pivotal Software AG , Inc. et al., No: 3:19-cv-03589, pending in the U.S. District Court for the Northern District of California.
If you purchased or otherwise acquired Pivotal securities between April 21, 2018 and June 4, 2019 (the “Class Period”) and suffered losses you do not need to sign up to be included in the putative class of investors.
If you suffered significant 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, you must move the Court no later than August 19, 2019 (the “Lead Plaintiff Deadline”). Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
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Pivotal’s sales execution, and (2) sales deferrals, lengthening sales cycles, and diminished growth for the Company’s outdated and sub-standard product platform.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.
Whistleblowers: Persons with non-public information regarding PVTL should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email PVTL@hbsslaw.com.
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Reed Kathrein, 510-725-3000