Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action against CommVault Systems, Inc. and Lead Plaintiff Deadline of November 11, 2014
NEW YORK, Sept. 15, 2014 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed in the United States District Court for the District of New Jersey on behalf of those who purchased shares of CommVault Systems. ("CommVault Systems" or the "Company") (NasdaqGS: CVLT), during the period between May 15, 2013 and April 24, 2014, inclusive (the "Class Period").
The complaint charges CommVault Systems and certain of its executives with violations of federal securities laws with issuing a series of materially false and misleading statements during the Class Period.
On January 29, 2014, CommVault systems revealed that it had only met its revenue growth target because of the timely recognition of deferred software licensing revenue, effectively depleting CommVault Systems' deferred licensing revenue, and that it had missed its sales force hiring target for the quarter. Then, on April 25, 2014, CommVault Systems disclosed that - without the ability to recognize deferred software licensing revenue - its fiscal fourth quarter profit dropped significantly as a result of significant deceleration in revenue growth and that its financial results were negatively impacted, in large part, by inadequate staffing of sales and marketing personnel. The lawsuit claims that when this adverse information entered the market the price of CommVault Systems dropped, damaging investors.
Plaintiff seeks to recover damages on behalf of all shareholders who purchased shares of CommVault Systems during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. November 11, 2014 is the deadline for investors to seek a lead plaintiff appointment. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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