SAN FRANCISCO, Aug. 13, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Pluralsight, Inc. (NASDAQ: PS) of the Firm’s ongoing investigation of possible violations of the Federal securities laws.
If you invested in Pluralsight before August 1, 2019 and suffered losses or have information that may assist the firm’s investigation contact Hagens Berman:
https://www.hbsslaw.com/investor-fraud/PS
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
The investigation centers on whether Pluralsight’s and senior management’s statements about the Company’s sales execution abilities and growth prospects were accurate.
More specifically, on July 31, 2019 the Company and senior management conducted an investor conference call to discuss Q2 2019 financial results. During earnings call, senior management blamed Pluralsight’s billings miss on poor sales execution and slow onboarding of new sales representatives.
Several analysts then lowered their price targets for Pluralsight shares. One reportedly wrote in a note to clients “[w]e are surprised by the magnitude of the billings weakness and we expect the stock to be a show-me story until investors gain confidence in billings re-acceleration.”
This news drove the price of Pluralsight shares sharply lower during intraday trading on August 1, 2019.
“We’re focused on investors’ losses, the extent to which management may have misled investors about reasonable growth prospects, internal controls, and reasons for the recently-announced auditor change,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Pluralsight should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email PS@hbsslaw.com.
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Contact:
Reed Kathrein, 510-725-3000