LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC (the “Firm”) announces a class action lawsuit has been filed against Pure Storage, Inc. (“Pure Storage” or the “Company”) (NYSE: PSTG). Investors who purchased or otherwise acquired shares on or around the initial public offering (“IPO”) on October 7, 2015, are encouraged to contact the Firm in advance of the November 11, 2016 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we advise you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401 to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the complaint, the Registration Statement that Pure Storage filed with the U.S. Securities and Exchange Commission for its IPO contained materially false and misleading statements and/or failed to disclose: that its sales personnel had aggressively pulled sales forward into the quarters prior to the IPO, resulting in less sales in the quarters ending after the IPO; that general trends in the IT market, as well as Pure Storage’s own past sales trends, showed that its first quarter 2017 sales growth for the quarter ending April 30, 2016, would be significantly lower than prior quarters; and that the Company’s concomitant increases in sales and marketing and general and administrative expenses, were not one-time expenses due to increasing the size of its sales force, but would continue indefinitely.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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