The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Guidewire Software, Inc. (NYSE: GWRE) who purchased shares between March 6, 2019 and March 4, 2020. 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 Guidewire lawsuit alleges that (1) that the Company’s transition to the cloud was not going well; (2) that Guidewire’s cloud-based products needed to be improved to meet customer needs and catch up with rival systems; (3) that the Company’s failed transition to the cloud was also hurting Guidewire’s traditional on-premise business; and (4) as a result, Guidewire’s revenue guidance, including guidance principally based on significantly increasing demand for the Company’s cloud-based products, was baseless and unattainable.
Shareholders have until September 23, 2020 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.
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