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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Pluralsight Inc    PS

PLURALSIGHT INC

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Glancy Prongay & Murray LLP : Announces the Filing of a Securities Class Action on Behalf of Pluralsight, Inc. Investors (PS)

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08/14/2019 | 08:01pm EDT

Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired Pluralsight, Inc. (“Pluralsight” or the “Company”) (NASDAQ: PS) common stock between August 2, 2018 and July 31, 2019, inclusive (the “Class Period”). Pluralsight investors have until October 15, 2019 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

On July 31, 2019, after the market closed, the Company reported billings for second quarter 2019 of $80.6 million, below the expected $89.1 million, due to certain “sales execution challenges.”

On this news, shares of Pluralsight fell $12.13 per share, nearly 40%, to close at $18.56 per share on August 1, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Pluralsight was experiencing sales execution challenges which impacted its billings; (2) that Pluralsight was experiencing substantial delays in hiring and properly training its salesforce that would be necessary to meet its lofty billing projections; (3) that Pluralsight was behind on the onboarding of new sales representatives, which was causing sales execution issues and preventing the Company from meeting its high growth projections; and (4) that as a result, Pluralsight’s public statements were materially false and misleading at all relevant times.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased Pluralsight common stock during the Class Period you may move the Court no later than October 15, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


© Business Wire 2019
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Financials (USD)
Sales 2019 314 M
EBIT 2019 -58,4 M
Net income 2019 -165 M
Finance 2019 69,3 M
Yield 2019 -
P/E ratio 2019 -13,3x
P/E ratio 2020 -15,6x
EV / Sales2019 4,82x
EV / Sales2020 3,96x
Capitalization 1 586 M
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Mean consensus BUY
Number of Analysts 11
Average target price 30,64  $
Last Close Price 15,69  $
Spread / Highest target 155%
Spread / Average Target 95,3%
Spread / Lowest Target 59,3%
EPS Revisions
Managers
NameTitle
Aaron Skonnard Chairman & Chief Executive Officer
Brandon Peay Senior VP-Strategy & Business Operations
James W. Budge CFO & Principal Accounting Officer
Gary Lewis Crittenden Lead Independent Director
Scott D. Dorsey Independent Director
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