An investigation on behalf of current long term investors in CommVault Systems, Inc. (NASDAQ:CVLT) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:CVLT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/11/2016 -- Certain directors of Tinton Falls, NJ based CommVault Systems, Inc. are under investigation over potential wrongdoing. The investigation was announced on behalf of current long-term investors in NASDAQ:CVLT shares concerning possible breaches of fiduciary duties by certain directors of CommVault Systems, Inc.
Shares of CommVault Systems, Inc. (NASDAQ:CVLT) declined from $88.86 per share in October 2013 to as low as $30.41 per share in January 2016.
Investors who are current long term investors in CommVault Systems, Inc. (NASDAQ:CVLT) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ:CVLT stocks follows a lawsuit pending against CommVault Systems, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:CVLT stocks, concerns whether certain CommVault Systems directors are liable in connection with the allegations made in that lawsuit. According to that complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges 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.
On May 9, 2016, NASDAQ:CVLT share closed at $43.13 per share.
Those who purchased shares of CommVault Systems, Inc. have certain options and should contact the Shareholders Foundation.
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