| Company: | CommVault Systems |
| Ticker Symbol: | CVLT |
| Class Period: | May-15-13 to Apr-24-14 |
| Date Filed: | Sep-15-14 |
| Lead Plaintiff Deadline: | Nov-14-14 |
| Court: | District of New Jersey |
| Allegations: | |
The complaint charges CommVault Systems and certain of its executives with violations of federal securities laws with issuing a series of materially false and misleading statements during the Class Period.
On January 29, 2014, CommVault systems revealed that it had only met its revenue growth target because of the timely recognition of deferred software licensing revenue, effectively depleting CommVault Systems' deferred licensing revenue, and that it had missed its sales force hiring target for the quarter. Then, on April 25, 2014, CommVault Systems disclosed that - without the ability to recognize deferred software licensing revenue - its fiscal fourth quarter profit dropped significantly as a result of significant deceleration in revenue growth and that its financial results were negatively impacted, in large part, by inadequate staffing of sales and marketing personnel. The lawsuit claims that when this adverse information entered the market the price of CommVault Systems dropped, damaging investors.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
