PIVOTAL SOFTWARE, INC. NEW YORK, Aug. 15, 2019 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that at least two class action lawsuits have been filed against Pivotal Software, Inc. ("Pivotal" or the "Company") (NYSE: PVTL) on behalf of shareholders who purchased (1) pursuant and/or traceable to the registration statement and prospectus (the "Registration Statement") issued in connection with Pivotal's April 2018 initial public offering (the "IPO"); and/or (2) between April 24, 2018 and June 4, 2019, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/pvtl.
The complaint alleges that throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Pivotal was facing major problems with its sales execution and a complex technology landscape; (2) 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and the industry's sentiment shifted away from Pivotal's principal products because the Company's products were outdated, inadequate, and incompatible with the industry-standard platform; and (3) Pivotal's public statements were materially false and misleading at all relevant times.
On June 4, 2019, post-market, Pivotal reported its financial and operating results for the first quarter of 2019, advising investors that "sales execution and a complex technology landscape impacted the quarter." Wedbush Securities analyst Daniel Ives called the quarter a "train wreck" and characterized the Company's operating results as "disastrous," asserting that Pivotal's "management team does not have a handle on the underlying issues negatively impacting its sales cycles and the activity in the field which gives us concern that this quarter will be the start of some 'dark days ahead' for Pivotal (and its investors)." On this news, Pivotal's stock price fell sharply during intraday trading on June 5, 2019.
If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/pvtl or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Pivotal you have until August 19, 2019 to request that the Court appoint you as lead plaintiff in the federal exchange under the Securities Exchange Act. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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