The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Pivotal Software, Inc. (NYSE: PVTL) who purchased common stock pursuant or traceable to the April 2018 initial public offering and/or Pivotal securities between April 24, 2018 and June 4, 2019. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Pivotal lawsuit alleges that (i) Pivotal was facing major problems with its sales execution and a complex technology landscape; (ii) the foregoing headwinds resulted in deferred sales, lengthening sales cycles, and diminished growth as its customers and the industry’s sentiment shifted away from Pivotal’s principal products because the Company’s products were outdated, inadequate, and incompatible with the industry-standard platform; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until August 19, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
Please fill out the form to learn more