openPR Logo
Press release

Lawsuit filed for Investors in shares of Guidewire Software, Inc. (NYSE: GWRE)

07-30-2020 01:42 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

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

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

An investor, who purchased shares of Guidewire Software, Inc. (NYSE: GWRE), filed a lawsuit over alleged Securities Laws violations by Guidewire Software, Inc.

Investors who purchased shares of Guidewire Software, Inc. (NYSE: GWRE) have certain options and for certain investors are short and strict deadlines running. Deadline: September 23, 2020. NYSE: GWRE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

San Mateo, CA based Guidewire Software, Inc. provides software products for property and casualty (“P&C”) insurers worldwide.
On March 4, 2020, Guidewire Software, Inc. announced its financial results for the second quarter of 2020. Guidewire Software, Inc. was forced to slash its revenue guidance for fiscal year 2020 by $57 million, from a range of $759 million to $771 million down to $702 million to $714 million. Rather than forecasting a year-over-year revenue increase of up to 7% for fiscal 2020, the Company was now forecasting a substantial revenue decline of approximately 7.5%. The Company similarly lowered its critical ARR guidance to be between 11% and 12% in fiscal 2020, compared to its previous range of 14% to 16%.

Shares of Guidewire Software, Inc. (NYSE: GWRE) declined from $124.16 per share on February 19, 2020 to as low as $71.64 per share on April 3, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of Guidewire Software, Inc. (NYSE: GWRE) common shares between March 6, 2019 and March 4, 2020, that the defendants violated Federal Securities Laws.

The plaintiff claims that the Defendants represented to investors that Guidewire was well-positioned to capitalize on a shift in the P&C insurance industry away from on-premise software systems to software systems provided over the cloud. Defendants touted the “robust” demand that existed for Guidewire’s cloud-based products and assured investors that customer demand was “enduring and broad-based across most or all segments of the market.”

The plaintiff alleges that the defendants further touted the demand for Guidewire’s cloud offering by reporting, at the end of each quarter, that cloud sales represented a substantial and growing percentage of the Company’s overall sales. The Company also issued highly favorable revenue and Annual Recurring Revenue (“ARR”) guidance, and assured investors that customer demand remained strong across the Company’s entire product offering, including its legacy on-premise business.

More specifically, the plaintiff claims that between March 6, 2019 and March 4, 2020, the demand for Guidewire’s cloud products was weak and the Company’s transition to the cloud was not going well because Guidewire’s cloud-based products needed to be significantly improved to meet customer needs and catch-up with rival systems, that Guidewire’s failed transition to the cloud was damaging the Company’s traditional on-premise business, as customers delayed purchasing decisions or declined to renew existing licenses, and that Guidewire’s revenue guidance, including guidance principally based on significantly increasing demand for the Company’s cloud-based products, was baseless and unattainable.

Those who purchased shares of Guidewire Software, Inc. (NYSE: GWRE) 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.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lawsuit filed for Investors in shares of Guidewire Software, Inc. (NYSE: GWRE) here

News-ID: 2099302 • Views: 366

More Releases from Shareholders Foundation

Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) Investor Alert: Investigation over pot …
An investigation was announced over potential breaches of fiduciary duties by certain directors at Vanda Pharmaceuticals Inc. (NASDAQ: VNDA. Investors who purchased shares of Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) and currently hold any of those Vanda Pharmaceuticals Inc. (NASDAQ: VNDA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm concerns whether certain Vanda Pharmaceuticals Inc. (NASDAQ: VNDA
Investigation announced for Long-Term Investors in shares of Milestone Pharmaceu …
Certain directors of Milestone Pharmaceuticals Inc. are under investigation over potential breaches of fiduciary duties. Investors who purchased shares of Milestone Pharmaceuticals Inc. (NASDAQ: MIST) and currently hold any of those NASDAQ: MIST shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm concerns whether certain Milestone Pharmaceuticals directors breached their fiduciary duties and caused damage to the
Investigation announced for Long-Term Investors in shares of iQIYI, Inc. (NASDAQ …
An investigation was announced for investors in shares of iQIYI, Inc. (NASDAQ: IQ) concerning potential breaches of fiduciary duties by certain directors and officers of iQIYI, Inc.. Investors who are current long term investors in iQIYI, Inc. (NASDAQ: IQ) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for current long term investors in NASDAQ: IQ
Investigation announced for Investors in shares of Noble Energy, Inc. (NASDAQ: N …
An investigation was announced concerning whether the takeover of Noble Energy, Inc.is unfair to: NBL stockholders. Investors who purchased shares of Noble Energy, Inc. (NASDAQ: NBL) and currently hold any of those NASDAQ: NBL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm concerns whether certain officers and directors of Noble Energy, Inc. breached their fiduciary duties

All 5 Releases


More Releases for Guidewire

Cardiac Guidewire and Catheters Market | Coronary Guidewires
Global Cardiac Guide Wire and Catheters Market is Expected to Increse around US$ XX Mn by 2024, Due to Increasing Cardiovascular Disease Such as Heart Attack and Atherosclerosis Analyst Speak: “The Global Cardiac Guide Wire and Catheters Market is anticipated to reach about US$ XX Mn by 2024, and anticipated to expanding at a CAGR over six years of forecast period 2019-2024” due to rise in occurrence of cardiovascular diseases and
Global Pressure Guidewire Revenues will Surpass US$ 1 Billion Benchmark by End o …
Increasing healthcare expenditure on treatment of cardiovascular diseases continues to propel the demand for pressure guidewires in the world. Cardiovascular treatment procedures developed over the years have integrated the use of pressure guidewires for navigating through blood vessels or lesions. The instrumental contribution of pressure guidewire as a medical device in assisting the highly-intrinsic cardiovascular surgeries, coupled with the rising preference to angioplasty, helps it gain surplus demand from all
Ophthalmic Guidewire Market Promising Growth Opportunities over 2017 to 2025
The ophthalmic guidewire is designed to navigate vessels to reach a lesion or vessel segment. Once the tip of the device arrives at its destination, it acts as a guide that larger catheters can rapidly follow for easier delivery to the treatment site. The ophthalmic guidewire is characterized by their usability, steerability, torque, and opacity. Pushability is the amount of force needed to advance the wire. Steerability is the ability
Ophthalmic Guidewire Market - Forecasts from 2017 – 2025
The ophthalmic guidewire is designed to navigate vessels to reach a lesion or vessel segment. Once the tip of the device arrives at its destination, it acts as a guide that larger catheters can rapidly follow for easier delivery to the treatment site. The ophthalmic guidewire is characterized by their usability, steerability, torque, and opacity. Pushability is the amount of force needed to advance the wire. Steerability is the ability
Global Coronary Guidewire Sales Market Report 2017
Geographically, this report split global into several key Regions, with sales (K Pcs), revenue (Million USD), market share and growth rate of Coronary Guidewire for these regions, from 2012 to 2022 (forecast), covering • United States • China • Europe • Japan • Southeast Asia • India Global Coronary Guidewire market competition by top manufacturers/players, with Coronary Guidewire sales volume, Price (USD/Pcs), revenue (Million USD) and market share for each manufacturer/player; the top players including • Abbott Vascular (US) • Boston Scientific (US) • Cordis (US) • Medtronic (US) • Terumo Medical (US) • Teleflex
Pressure Guidewire Market Stood at US$ 1 Billion by 2024
According to Persistence Market Research, the global pressure guidewire market will witness significant contribution from Koninklijke Philips N.V. (Volcano Corporation) and Abbott Laboratories (St. Jude Medical, Inc.) – global industry leaders in medical device manufacturing. While these two players are expected to account for nearly two-third of global pressure guidewire revenues, the market will also see considerable involvement of North American companies Opsens, Inc. (Canada) and Boston Scientific Corporation (US).