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Oklahoma City, OK (July 27, 2020) – On July 24, 2020, a securities class action lawsuit was filed in the United States District Court for the Northern District of California against Guidewire Software, Inc. (NYSE: GWRE). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is March 6, 2019 through March 4, 2020. More specifically, according to the complaint, the Company made false and misleading statements to the market. Guidewire’s transition to cloud computing was not proceeding successfully. The Company’s cloud-based products lagged behind competitors and required improvement. This ongoing failure also impacted the Company’s traditional business. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Guidewire, investors suffered damages.
Plaintiff seeks to recover damages on behalf of all Guidewire Software, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Wednesday, September 23, 2020 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact: Robin Hester at email@example.com