Skip to Content

Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against VMware,Inc.

To join this class action, please complete the following Investor Certification.  [contact-form-7 id=”1497″ title=”VMware, Inc. (NYSE:  VMW) Investor Certification”]

Oklahoma City, OK (April 1, 2020) – On March 31, 2020, a securities class action lawsuit was filed in the United States District Court for the Northern District of California against VMware,Inc. (NYSE: VMW).  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 30, 2019 through February 27, 2020.  More specifically, Defendants made materially false and/or misleading statements, and/or failed to disclose that: (1) VMware’s reporting with respect to its backlog of unfilled orders was not in compliance with all relevant accounting and disclosure requirements; (2) the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny and/or investigation; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On February 27, 2020, after the markets closed and the same day that VMware announced its fourth quarter and full year financial results, the Company issued a press release announcing that the Enforcement Division of the SEC “requested documents and information related to VMware’s backlog and associated accounting and disclosures.”  On this news, VMware’s stock price fell $15.11 per share, or over 11%.

Plaintiff seeks to recover damages on behalf of all VMware,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 Monday, June 1, 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 rkh@federmanlaw.com

 

 

let’s connect

Click Here to Complete Federman & Sherwood Fee Agreement.

OKLAHOMA Office

10205 North Pennsylvania Avenue
Oklahoma City, Oklahoma 73120

TEXAS Office

212 W. Spring Valley Road,
Richardson, Texas 75081