Investors with losses are encouraged to contact the firm before September 23, 2020; click here to submit trade information
LOS ANGELES, Aug. 07, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Guidewire Software, Inc. (NYSE: GWRE) investors that acquired shares between March 3, 2016 and March 6, 2020. Investors have until September 23, 2020 to seek an active role in this litigation.
Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company's transition to the cloud was not going well; (2) Guidewire's cloud-based products needed to be improved to meet customer needs and catch-up with rival systems; (3) the Company's failed transition to the cloud was also hurting Guidewire's traditional on-premise business; and (4) as a result, Guidewire's revenue guidance, including guidance principally based on significantly increasing demand for the Company's cloud-based products, was baseless and unattainable. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 23, 2020.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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