San Diego, CA -- (SBWIRE) -- 10/19/2016 -- Certain directors of CommVault Systems, Inc are under investigation over potential misconduct. The investigation was announced for current long-term investors in NASDAQ:CVLT shares over potential breaches of fiduciary duties by certain directors at CommVault Systems.
Investors who purchased shares of CommVault Systems, Inc. (NASDAQ:CVLT) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain CommVault Systems directors breached their fiduciary duties and caused damage to the company and its shareholders.
In September 2014 a lawsuit was filed against CommVault Systems, Inc. over alleged securities laws violations. The plaintiff alleged 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. 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.
On October 18, 2016, NASDAQ:CVLT share closed at $51.94 per share.
Those who purchased shares of CommVault Systems, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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