The Shareholders Foundation announces that a deadline is coming up on November 11, 2014 in the lawsuit filed for investors of CommVault Systems, Inc. (NASDAQ:CVLT) over alleged Securities Laws Violations by CommVault Systems, Inc.
Investors who purchased shares of CommVault Systems, Inc. (NASDAQ:CVLT) have certain options and for certain NASDAQ:CVLT investors are strict and short deadlines running. Deadline: November 11, 2014. NASDAQ:CVLT stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges on behalf of purchasers of CommVault Systems, Inc. (NASDAQ:CVLT) common shares between May 15, 2013 and April 24, 2014, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that the defendants allegedly misrepresented CommVault Systems, Inc’s revenue growth by booking and subsequently recognizing deferred software licensing revenue to mask slowing revenue growth, while at the same time denying that revenue growth was in fact decelerating, that CommVault Systems, Inc misrepresented that it was increasing investments in its sales force and hiring more sales employees in order to continue to drive growth through fiscal year 2014 and beyond, and that as a result of these alleged misrepresentations, CommVault Systems, Inc stock traded at allegedly artificially inflated prices between May 15, 2013 and April 24, 2014.
On April 25, 2014, CommVault Systems, Inc. announced its fourth quarter and fiscal 2014 financial results. CommVault Systems, Inc. reported that its Total Revenue rose from $314.78 million for the 12 months period that ended on March 31, 2011 to $586.34 million for the 12 months period that ended on March 31, 2014 and that its respective Net income increased from $21.00 million to $64.06 million. Shares of CommVault Systems, Inc. declined from $68.98 per share on April 24, 2014, to $47.47 per share on April 25, 2014 and continued to decline to $45.34 per share on April 29, 2014.
On October 20, 2014, NASDAQ: CVLT shares closed at $47.96 per share.
Those who purchased shares of CommVault Systems, Inc. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com