Robbins Arroyo LLP: Pivotal Software, Inc. (PVTL) Misled Shareholders According to Lawsuit
PIVOTAL SOFTWARE INC (PVTL)
Last pivotal software inc earnings: 9/4 04:11 pm
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Source: Business Wire
SAN DIEGO & SAN FRANCISCO--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that a purchaser of Pivotal Software, Inc. (NYSE: PVTL) filed a class action complaint against the company for alleged violations of the Securities Act of 1933 pursuant to its April 2018 initial public offering ("IPO"). Pivotal Software is a cloud platform technology.View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/pivotal-software-inc/Pivotal Accused of Inflating IPO PriceAccording to the complaint, Pivotal Software went public in an initial public offering in April 2018 for $638 million in gross proceeds. However, Pivotal failed to disclose it was already experiencing diminished growth prospects as customers and industry sentiment shifted away from Pivotal's principal offering because it was outdated and incompatible with the industry standard platform. As the truth was revealed, Pivotal shares plummeted. On June 4, 2019, Pivotal repo
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