NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is investigating whether Pivotal Software, Inc. (“Pivotal Software” or the “Company”) (NYSE: PVTL) or certain of its officers and directors violated federal securities laws. If you purchased Pivotal Software stock pursuant and/or traceable to Pivotal Software’s Initial Public Offering (“IPO”) on April 20, 2018 or if you otherwise own Pivotal Software shares and have suffered a loss, you are encouraged to contact a Scott+Scott attorney at (888) 398-9312 for more information.
Pivotal Software’s IPO price was $15.00 per share.
On June 4, 2019, after the market closed, Pivotal Software reported its financial and operating results for the first quarter of 2019, revealing to investors that "sales execution and a complex technology landscape impacted the quarter."
Analysts were quick to respond, calling Pivotal Software’s quarter a "train wreck,” characterizing the Company's operating results as "disastrous", asserting that Pivotal Software’s "management team does not have a handle on the underlying issues negatively impacting its sales cycles and the activity in the field.”
On this news, Pivotal Software's stock price fell sharply from its June 4, 2019 closing price of $18.54 per share to its June 5, 2019 closing price of $10.89 per share, representing a single trading day loss of over 41%, and over a 27% drop compared to its $15 IPO price.
What You Can Do
If you purchased or otherwise own Pivotal Software stock, and you wish to discuss this investigation, please contact attorney Jonathan Zimmerman at (888) 398-9312, or at email@example.com, or visit the Pivotal Software investigation page on our website at https://scott-scott.com/investigation/pivotal-software-inc/.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.