COMMVAULT SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against CommVault Systems, Inc.
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 12, 2014 to file lead plaintiff applications in a securities class action lawsuit against CommVault Systems, Inc. (Nasdaq: CVLT), if they purchased the Company’s securities between May 15, 2013 and April 24, 2014, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of New Jersey.
What You May Do
If you purchased shares of CommVault and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 12, 2014.
About the Lawsuit
CommVault and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On January 29, 2014, CommVault disclosed that it had only met its revenue growth target because of the timely recognition of deferred software licensing revenue, effectively depleting CommVault’s deferred licensing revenue, and that it had missed its sales force hiring target for the quarter. Then, on April 25, 2014, CommVault revealed 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.
On this news, the price of CommVault’s shares plummeted.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
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