SAN FRANCISCO--(BUSINESS WIRE)--The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased or otherwise acquired the common stock of Pluralsight, Inc. (“Pluralsight” or the “Company”) (Nasdaq: PS) between August 2, 2018 and July 31, 2019, inclusive (the “Class Period”).
If you purchased or acquired the common stock of Pluralsight during the Class Period, you may move the Court for appointment as lead plaintiff by no later than October 15, 2019. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the actions.
Pluralsight investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Background on the Pluralsight Securities Class Litigation
Pluralsight, headquartered in Farmington, Utah, is a provider of cloud-based and video training courses.
The action alleges that, throughout the Class Period, Pluralsight misrepresented its business outlook, especially with respect to the Company’s salesforce and its capacity to generate strong growth in billings. In particular, Pluralsight failed to disclose that it was undergoing significant delays in the process of hiring and adequately training the salesforce necessary to meet the Company’s billing projections.
On July 31, 2019, after markets closed, Pluralsight announced its second quarter 2019 financial results, revealing that the Company’s billings growth rate had slowed from 40% to 23% year-over-year. Pluralsight attributed the delay in growth in billings to challenges in sales execution and other salesforce problems. The Company additionally disclosed that its Chief Revenue Officer was resigning. On this news, the price of Pluralsight shares fell $12.13 per share, or nearly 40%, from its closing price of $30.69 to close at $18.56 per share on August 1, 2019.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” Benchmark Litigation has named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”
For more information about Lieff Cabraser and the firm’s representation of investors, please visit http://www.lieffcabraser.com.
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