NEW YORK, June 07, 2019 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C. is investigating potential claims against Pivotal Software, Inc. (NYSE: PVTL). Our investigation concerns whether Pivotal has violated the federal securities laws and/or engaged in other unlawful business practices.
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On June 4, 2019 after the market closed, Pivotal Software’s management lowered guidance for its Fiscal 2020 results, “rais[ing] concerns that demand for its product is weakening,” according to an article in Forbes. Wedbush analyst Daniel Ives downgraded the stock, described the Company’s quarterly results as a “train wreck,” and questioned the company’s management:
“[I]t is clear to us that this 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),” said Ives.
Following this news, Pivotal’s share price fell by more than 41%, closing at $10.89 on June 5, 2019.
If you purchased or otherwise acquired Pivotal shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Pivotal please go to http://www.bespc.com/pvtl/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.