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Lawsuit filed for Investors in shares of Pluralsight, Inc. (NASDAQ: PS)

08-19-2019 09:37 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Pluralsight, Inc. (NASDAQ: PS) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Pluralsight, Inc. (NASDAQ: PS) shares over alleged securities laws violations.

The Shareholders Foundation announces that an investor, who purchased shares of Pluralsight, Inc. (NASDAQ: PS), filed a lawsuit over alleged violations of Federal Securities Laws by Pluralsight, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Pluralsight, Inc. (NASDAQ: PS) have certain options and for certain investors are short and strict deadlines running. Deadline: October 15, 2019. NASDAQ: PS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Pluralsight, Inc. completed its initial public offering (“IPO”) in May 2018, whereby it sold 23.8 million shares at a price of $15.00 per share. Less than a year later, Pluralsight completed a secondary public offering (“SPO”) on March 6, 2019, whereby it sold 15.6 million shares at a price of $29.25 per share, for gross proceeds of over $450 million.

On July 31, 2019, after the market closed, Pluralsight, Inc. reported billings for second quarter 2019 of $80.6 million, below the expected $89.1 million, due to certain “sales execution challenges.” Shares of Pluralsight, Inc. (NASDAQ: PS) declined to as low as $15.48 per share on August 15, 2019.

The plaintiff claims that between August 2, 2018 and July 31, 2019, the Pluralsight, Inc. failed to disclose that it was experiencing substantial delays in hiring and properly training the salesforce necessary to meet its lofty billing projections. In addition, Pluralsight, Inc. allegedly knew at the time of the SPO that it was behind schedule onboarding new sales representatives, which was hurting the Company’s sales execution and preventing Pluralsight from meeting its high growth projections. Instead of disclosing such facts at the time of the SPO, and to cash-out at inflated prices, Defendants intentionally obscured and omitted this pertinent information from investors.

Those who purchased shares of Pluralsight, Inc. (NASDAQ: PS) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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