PS INVESTORS ALERT: Lieff Cabraser Announces Securities Class Action Against Pluralsight, Inc. (Nasdaq: PS)
September 16 2019 - 9:01AM
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.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20190916005199/en/
Sharon M. Lee Lieff Cabraser Heimann & Bernstein, LLP
Telephone: 1-800-541-7358
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