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CST: 14/10/2019 03:35:10   

Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Pluralsight, Inc. (PS)

17 Days ago

LOS ANGELES, Sept. 26, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming October 15, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of Pluralsight, Inc. (“Pluralsight” or the “Company”) (NASDAQ: PS) investors who purchased common stock between August 2, 2018 and July 31, 2019, inclusive (the “Class Period”).

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

On July 31, 2019, after the market closed, the Company reported billings for second quarter 2019 of $80.6 million, below the expected $89.1 million, due to certain “sales execution challenges.”

On this news, shares of Pluralsight fell $12.13 per share, nearly 40%, to close at $18.56 per share on August 1, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Pluralsight was experiencing sales execution challenges which impacted its billings; (2) that Pluralsight was experiencing substantial delays in hiring and properly training its salesforce that would be necessary to meet its lofty billing projections; (3) that Pluralsight was behind on the onboarding of new sales representatives, which was causing sales execution issues and preventing the Company from meeting its high growth projections; and (4) that as a result, Pluralsight’s public statements were materially false and misleading at all relevant times.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased or otherwise acquired Pluralsight common stock during the Class Period you may move the Court no later than October 15, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.  If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com

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