VMWare, Inc.
| Company Name | VMWare, Inc. |
| Stock Symbol | VMW |
| Class Period | March 30, 2019 to February 27, 2020 |
| Lead Plaintiff Motion Deadline | June 01, 2020 |
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Background
On February 27, 2020, VMware announced that the Enforcement Division of the Securities and Exchange Commission “requested documents and information related to VMware’s backlog and associated accounting and disclosures.”
On this news, VMware’s share price fell $15.11, or more than 11%, to close at $120.52 per share on February 28, 2020, thereby injuring investors.
The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) that VMware’s reporting with respect to its backlog of unfilled orders was not in compliance with all relevant accounting and disclosure requirements; (2) that 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.
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