OAKLAND, Calif.--(BUSINESS WIRE)--Pivotal Software, Inc. shares have declined by more than 40% on news of its disappointing first-quarter financial results and multiple analyst downgrades. Gibbs Law Group is investigating a potential Pivotal Software Class Action Lawsuit on behalf of investors who lost money in Pivotal Software (NYSE: PVTL) stock.
To speak privately with an attorney regarding this class action lawsuit investigation, click here.
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, shares of Pivotal plummeted more than 40% in intraday trading on June 5, 2019, causing significant harm to investors.
If you invested in Pivotal Software and would like to speak privately with a securities attorney to learn more about our investigation and your legal rights, visit our website or contact our securities team directly at (800) 808-5294. Our investigation concerns whether Pivotal and certain of its officers and/or directors have violated federal securities laws.
Gibbs Law Group represents individual and institutional investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
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