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Lawsuit filed for Investors in shares of VMware, Inc. (NYSE: VMW) and Deadline on June 1st coming up

04-07-2020 09:18 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in VMware, Inc. (NYSE: VMW) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in VMware, Inc. (NYSE: VMW) shares over alleged securities laws violations.

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

Investors who purchased shares of VMware, Inc. (NYSE: VMW) have certain options and for certain investors are short and strict deadlines running. Deadline: June 1, 2020. NYSE: VMW investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Palo Alto, CA based VMware, Inc. provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces in the United States and internationally. On February 27, 2020, VMware, Inc filed a form with the U.S. Securities and Exchange Commission ("SEC"), disclosing an SEC investigation into the Company's backlog of unfilled orders. Specifically, that Form advised investors that, "[i]n December 2019, the staff of the Enforcement Division of the [SEC] requested documents and information related to VMware's backlog and associated accounting and disclosures." The Form also advised investors that, although "VMware is fully cooperating with the SEC's investigation," it was "unable to predict the outcome of this matter at this time."

Shares of VMware, Inc. (NYSE: VMW) declined from $206.80 per share in May 2019 to as low as $86.00 per share on March 17, 2020.

The plaintiff claims that between March 30, 2019 and February 27, 2020, the Defendants made false and/or misleading statements and/or failed to disclose that VMware's reporting with respect to its backlog of unfilled orders was not in compliance with all relevant accounting and disclosure requirements, that the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny and/or investigation, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of VMware, Inc. (NYSE: VMW) 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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