VMware Stock - VMware Sued for Securities Fraud - NYSE: VMW

VMware Stock – VMware Sued for Securities Fraud – NYSE: VMW

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Class Action Lawsuit Filed Against VMware, Inc. and Certain VMware Officers For Alleged Securities Fraud – VMW Investors Who Purchased, Or Otherwise Acquired, Shares of VMware Between March 30, 2019 and February 27, 2020, Both Dates Inclusive, Encouraged to Contact Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is making investors aware that a class action lawsuit has been filed against VMware, Inc. (“VMware” or the “Company”) (NYSE: VMW) and certain of its officers for alleged securities fraud on behalf of VMware investors who purchased, or otherwise acquired, VMware shares between March 30, 2019 and February 27, 2020 (the “Class Period”). 

The class action complaint, filed in the United States District Court for the Northern District of California, alleges that throughout the Class Period, the VMware Defendants made materially false and/or misleading statements, and/or failed to disclose that: (1) VMware’s reporting with respect to its backlog of unfilled orders was not in compliance with all relevant accounting and disclosure requirements; (2) the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny and/or investigation; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On February 27, 2020, post-market and the same day that VMware announced its fourth quarter and full year financial results, VMware issued a press release announcing that the Enforcement Division of the SEC “requested documents and information related to VMware’s backlog and associated accounting and disclosures.

On this news, VMware’s stock price dropped $15.11 per share, or more than 11%.

VMware investors who purchased, or otherwise acquired, VMW securities during the Class Period and suffered losses are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], to discuss the class action lawsuit or potential legal claims.

Kehoe Law Firm, P.C.