NEW YORK, July 9, 2019 /PRNewswire/ -- Bernstein Liebhard
LLP reminds investors that approximately 3 weeks remain to make a
motion for lead plaintiff in a securities class action lawsuit
filed on behalf of those who purchased or acquired the securities
of Box Inc. ("Box" or the "Company") (NYSE: BOX) from November 28, 2018, to June
3, 2019 (the "Class Period"). The lawsuit alleges claims
under the Securities Exchange Act of 1934 and seeks to recover Box
shareholders' investment losses.
If you purchased Box securities, and/or would like to discuss
your legal rights and options please visit Box Inc. Shareholder
Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877)
779-1414 or MGuarnero@bernlieb.com.
According to the lawsuit, throughout the Class Period Defendants
failed to disclose to investors: (1) that the Company was unable to
close large deals within the quarter; (2) that, as a result, the
Company's revenue would be materially impacted; and (3) that, as a
result of the foregoing, Defendants' positive statements about the
Company's business, operations, and prospects were materially
misleading and/or lacked a reasonable basis.
On February 27, 2019, the Company
reported fourth quarter revenue that fell below investors'
expectations, citing longer sales cycles for seven-figure deals. On
this news, the Company's share price fell $4.64, or nearly 19%, to close at $20.24 on February 28,
2019, on unusually heavy trading volume.
On June 3, 2019, after the market
closed, the Company lowered its fiscal 2020 revenue outlook to a
range of $688 million to $692 million, from previous guidance of
$700 million to $704 million, again citing longer sales cycles
for its larger deals.
On this news, the Company's share price fell as much as
$1.30, or more than 7%, to close at
$17.18 per share on June 4, 2019, on unusually heavy trading
volume.
If you wish to serve as lead plaintiff, you must move the Court
no later than August 5, 2019. A lead
plaintiff is a representative party acting on behalf of other class
members in directing the litigation. Your ability to share in any
recovery doesn't require that you serve as lead plaintiff. If you
choose to take no action, you may remain an absent class
member.
If you purchased Box securities, and/or would like to discuss
your legal rights and options please visit
https://www.bernlieb.com/cases/boxinc-box-shareholder-class-action-fraud-stock-144/ or
contact Matthew E.
Guarnero toll free at (877) 779-1414 or
MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and listed in The
Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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