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Lawsuit filed for Investors in shares of NetApp, Inc. (NASDAQ: NTAP) over alleged Securities Laws Violations

08-21-2019 06:55 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

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

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

An investor, who purchased shares of NetApp, Inc. (NASDAQ: NTAP), filed a lawsuit over alleged Securities Laws violations by NetApp, Inc..

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

Sunnyvale, CA based NetApp, Inc. provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. On August 1, 2019, NetApp, Inc reported preliminary first quarter 2019 adjusted earnings per share of $0.55 to $0.60, which was below the average estimate of $0.83, and net revenue of $1.22 billion to $1.23 billion, which was below the average estimate of $1.39 billion. NetApp, Inc also lowered its 2020 outlook, and stated it expected net revenue to decline between 5% and 10% year-over-year. Shares of NetApp, Inc (NASDAQ: NTAP) declined to as low as $44.55 per share on August 14, 2019.

The plaintiff claims that between May 22, 2019 and August 1, 2019, the defendants made false and/or misleading statements and/or failed to disclose that the Company was unable to close large deals within the quarter and that the deals were pushed out to subsequent quarters or downsized, that the Company's revenue would be materially impacted, that the Company would lower its fiscal 2020 guidance, and that as a result, NetApp’s public statements were materially false and misleading at all relevant times

Those who purchased shares of NetApp, Inc. (NASDAQ: NTAP) 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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