SAN DIEGO, June 20, 2019 /PRNewswire/ -- Shareholder Rights
Law Firm Johnson Fistel, LLP with the assistance of former
California Deputy Attorney General
and Special Counsel, Tiffany Johnson,
Esq., is investigating potential claims against Pivotal
Software, Inc. ("Pivotal") (NYSE: PVTL) for violations of federal
securities laws.
On or about April 20, 2018,
Pivotal sold 37 million shares of stock in its initial public stock
offering (the "IPO"), at $15 a share
raising $555,000,000 in new
capital. However, since the IPO, Pivotal stock has imploded,
on June 20, 2019, the stock closed at
$11.37.
On June 4, 2019, after the markets
closed, Pivotal reported Q1 2020 financial results. Revenue for the
quarter was $186 million and the
company lost $31.7 million, or
12 cents a share. The Company said it
now expects revenue between $756
million and $767 million for
fiscal 2020, and an adjusted loss between 15
cents a share and 13 cents a
share. Analysts expected revenue around $803
million for the year and an adjusted loss of 14 cents a share.
Specifically, Johnson Fistel's
investigation seeks to determine whether the Company's filings with
the U.S. Securities and Exchange Commission in connection with its
April 2018 IPO contained untrue
statements of material facts or omitted to state other facts
necessary to make the statements made therein not misleading
concerning the Company's business, and operations.
If you have information that could assist in this
investigation, including past employees and others, or if you are
an Pivotal shareholder and are interested in learning more about
the investigation or your legal rights and remedies, please contact
Jim Baker
(jimb@johnsonfistel.com) by email or phone at 619-814-4471. If
emailing, please include a phone number.
Additionally, you can [click here to join this
action]. There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
[click here to join this action].
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SOURCE Johnson Fistel, LLP