BENSALEM, Pa.–(BUSINESS WIRE)–$PS–Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Pluralsight, Inc. (“Pluralsight” or the “Company”) (NASDAQ: PS) common stock between August 2, 2018 and July 31, 2019, inclusive (the “Class Period”). Pluralsight investors have until October 15, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Pluralsight investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
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.
If you purchased Pluralsight common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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