VMWARE, INC. Shareholder Alert: Class Action Lawsuit Filed

BOSTON, MA / ACCESSWIRE / April 1, 2020 / Thornton Law Firm LLP announces that it is investigating a lawsuit filed against VMWare, Inc. on behalf of VMW shareholders (NYSE:VMW). VMW investors who have purchased at least 1,000 shares of VMW stock between March 30, 2019 and February 27, 2020, that are interested to serve as a lead plaintiff are encouraged to visit https://www.tenlaw.com/cases/VMW. Shareholders may also contact the Thornton Law Firm at [email protected], or call 617-531-3917. There is no minimum number of shares required to be a class member and at this time, shareholders who wish to be a lead plaintiff may apply to do so.

FOR MORE INFORMATION, VISIT: https://www.tenlaw.com/cases/VMW

Interested VMW shareholders have until June 1, 2020 to apply to be a lead plaintiff. The lawsuit alleges violations of the federal securities laws, and the class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. There is no minimum number of shares required to be a class member.

VMware provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces in the United States and internationally, and sells its products through distributors, resellers, system vendors, and systems integrators.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, the suit alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) VMware's reporting with respect to its backlog of unfilled orders was not in compliance with all relevant accounting and disclosure requirements; (ii) the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny and/or investigation; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

It is alleged that on February 27, 2020, during after-market hours, VMWare filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission ("SEC"), disclosing an SEC investigation into the Company's backlog of unfilled orders. Specifically, the suit states that the Form 8-K advised investors: "In 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 8-K also allegedly advised investors that "VMware is fully cooperating with the SEC's investigation," but was "unable to predict the outcome of this matter at this time."

On this news, VMware's stock price fell $15.11 per share, or 11.14%, to close at $120.52 per share on February 28, 2020.

Investors who are interested in serving as a lead plaintiff who purchased at least 1,000 shares of VMW stock (NYSE:VMW) are encouraged to contact the Thornton Law Firm's shareholder rights team at http://www.tenlaw.com/cases/VMW, by email at [email protected], or calling 617-531-3917 to discuss the lead plaintiff process.

FOR MORE INFORMATION: https://www.tenlaw.com/cases/VMW

Thornton Law Firm's securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:

Thornton Law Firm LLP
State Street Financial Center
1 Lincoln Street
Boston, MA 02111
https://www.tenlaw.com/cases/VMW

SOURCE: Thornton Law Firm LLP

View source version on accesswire.com:
https://www.accesswire.com/583547/VMWARE-INC-Shareholder-Alert-Class-Action-Lawsuit-Filed