BOSTON, April 01, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a class action lawsuit has been filed against VMware, Inc. (“VMware”) (NYSE: VMW) and certain of its officers for securities fraud. The lead plaintiff deadline is June 1, 2020. Investors who purchased VMware shares between March 30, 2019 and February 27, 2020 should contact Block & Leviton for a free case evaluation.
VMware provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces in the U.S. and abroad, and sells its products through distributors, resellers, system vendors, and systems integrators.
The complaint, filed in the U.S. District Court for the Northern District of California, alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and/or failed to disclose that: (1) VMware’s reporting with respect to its backlog of unfilled orders was not in compliance with all relevant accounting and disclosure requirements; (2) the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny and/or investigation; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On February 27, 2020, after the markets closed and the same day that VMware announced its fourth quarter and full year financial results, the Company issued a press release announcing that the Enforcement Division of the SEC “requested documents and information related to VMware’s backlog and associated accounting and disclosures.” On this news, VMware’s stock price fell $15.11 per share, or over 11%.
If you purchased or acquired shares of VMware common stock and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, or via email at jake@blockesq.com, or at https://shareholder.law/vmw. VMware investors who purchased or otherwise acquired shares of VMware common stock during the Class Period may, no later than June 1, 2020, seek to be appointed as a lead plaintiff representative of the Class.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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Phone: (617) 398-5600
Email: jake@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com