Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In CommVault Systems, Inc. (CVLT) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at CommVault Systems, Inc. (“CommVault” or the “Company”) (NasdaqGS: CVLT).
The investigation focuses on whether CommVault and its executives violated federal securities laws by failing to disclose that (1) the Company had been missing revenue growth targets and anticipated profits; and (2) that the Company was not adequately staffed with sales and marketing personnel.
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 its fiscal fourth quarter profit dropped significantly as a result of significant deceleration in revenue growth and inadequate staffing of sales and marketing personnel.
On this news, the Company’s stock price declined over $21 per share, or 30%, to close at $47.56 per share on April 25, 2014.
If you invested in CommVault stock or options between May 15, 2013 and April 24, 2014 and would like to discuss your legal rights, you (NasdaqGS: CVLT)can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding CommVault’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.