Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $12.5 Million Settlement in the CommVault Systems Inc (NASDAQ: CVLT) Investor Lawsuit

Via: ReleaseWire

Updated 12:00 PM CDT, Fri, June 08,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of CommVault Systems Inc (NASDAQ: CVLT) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on June 20, 2018 and NASDAQ: CVLT investors should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 06/08/2018 -- A deadline is coming up on June 20, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of CommVault Systems Inc (NASDAQ: CVLT) between May 7, 2013 and April 24, 2014.

Investors who purchased a significant amount of shares of CommVault Systems Inc (NASDAQ: CVLT) between May 7, 2013 and April 24, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the CommVault Systems Inc (NASDAQ: CVLT) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/commvault-systems-inc-nasdaq-cvlt-investor-securities-class-action-lawsuit-09102014

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is June 20, 2018. The class action administrator for this case is Garden City Group.

The lawsuit was originally filed in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by CommVault Systems Inc in connection with certain allegedly false and misleading statements made between May 15, 2013 and April 24, 2014.

According to the complaint the plaintiff alleges on behalf of purchasers of CommVault Systems Inc (NASDAQ: CVLT) common shares between May 15, 2013 and April 24, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the defendants allegedly misrepresented CommVault Systems Inc's revenue growth by booking and subsequently recognizing deferred software licensing revenue to mask slowing revenue growth, while at the same time denying that revenue growth was in fact decelerating, that CommVault Systems Inc misrepresented that it was increasing investments in its sales force and hiring more sales employees in order to continue to drive growth through fiscal year 2014 and beyond, and that as a result of these alleged misrepresentations, CommVault Systems Inc stock traded at allegedly artificially inflated prices between May 15, 2013 and April 24, 2014.

Those who purchased shares of CommVault Systems Inc (NASDAQ: CVLT) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-125-million-settlement-in-the-commvault-systems-inc-nasdaq-cvlt-investor-lawsuit-991678.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com