Scott+Scott Attorneys at Law LLP Announces Investigation into Pivotal Software, Inc. (PVTL)
Business Wire 13-Jun-2019 5:13 PM
Scott+Scott
Attorneys at Law LLP ("Scott+Scott"), an international shareholder
and consumer rights litigation firm, is investigating whether Pivotal
Software, Inc. ("Pivotal Software" or the "Company") (NYSE:PVTL) or
certain of its officers and directors violated federal securities laws.
If you purchased Pivotal Software stock pursuant and/or traceable to
Pivotal Software's Initial Public Offering ("IPO") on April 20, 2018 or
if you otherwise own Pivotal Software shares and have suffered a loss,
you are encouraged to contact a Scott+Scott attorney at (888) 398-9312
for more information.
Pivotal Software's IPO price was $15.00 per share.
On June 4, 2019, after the market closed, Pivotal Software reported its
financial and operating results for the first quarter of 2019, revealing
to investors that "sales execution and a complex technology landscape
impacted the quarter."
Analysts were quick to respond, calling Pivotal Software's quarter a
"train wreck," characterizing the Company's operating results as
"disastrous", asserting that Pivotal Software's "management team does
not have a handle on the underlying issues negatively impacting its
sales cycles and the activity in the field."
On this news, Pivotal Software's stock price fell sharply from its June
4, 2019 closing price of $18.54 per share to its June 5, 2019 closing
price of $10.89 per share, representing a single trading day loss of
over 41%, and over a 27% drop compared to its $15 IPO price.
What You Can Do
If you purchased or otherwise own Pivotal Software stock, and you wish
to discuss this investigation, please contact attorney Jonathan
Zimmerman at (888) 398-9312, or at jzimmerman@scott-scott.com,
or visit the Pivotal Software investigation page on our website at https://scott-scott.com/investigation/pivotal-software-inc/.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide with offices in New York, London, Connecticut,
California, and Ohio.
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