BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming October 15, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Pluralsight, Inc. (“Pluralsight” or the “Company”) (NASDAQ: PS) common stock between August 2, 2018 and July 31, 2019, inclusive (the “Class Period”).
Investors suffering losses on their Pluralsight investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.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.
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 if you meet certain legal requirements. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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