VMware, Inc. (NYSE: VMW) Investor Securities Class Action Lawsuit 04/01/2020

If you purchased a significant amount of shares of VMware, Inc. (NYSE: VMW) between March 30, 2019 and February 27, 2020, and / or if you purchased any NYSE: VMW shares prior to March 2019 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: June 1, 2020. NYSE: VMW investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
VMWare
Case Name: 
VMWare Shareholder Class Action Lawsuit 04/01/2020
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: VMW
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/01/2020
Class Period Begin: 
03/30/2019
Class Period End: 
02/27/2020
Court of Filing: 
U.S. District Court for the Northern District of California
Deadline To File for Lead: 
06/01/2020
Summary: 

An investor in shares of VMware, Inc. (NYSE: VMW) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by VMware, Inc. in connection with certain allegedly false and misleading statements made between March 30, 2019 and February 27, 2020.

Palo Alto, CA based VMware, Inc. provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces in the United States and internationally. On February 27, 2020, VMware, Inc filed a form with the U.S. Securities and Exchange Commission (“SEC”), disclosing an SEC investigation into the Company’s backlog of unfilled orders. Specifically, that Form advised investors that, “[i]n December 2019, the staff of the Enforcement Division of the [SEC] requested documents and information related to VMware’s backlog and associated accounting and disclosures.” The Form also advised investors that, although “VMware is fully cooperating with the SEC’s investigation,” it was “unable to predict the outcome of this matter at this time.”

Shares of VMware, Inc. (NYSE: VMW) declined from $206.80 per share in May 2019 to as low as $86.00 per share on March 17, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of VMware, Inc. (NYSE: VMW) common shares between March 30, 2019 and February 27, 2020, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 30, 2019 and February 27, 2020, the Defendants made false and/or misleading statements and/or failed to disclose that VMware’s reporting with respect to its backlog of unfilled orders was not in compliance with all relevant accounting and disclosure requirements, that the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny and/or investigation, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.