NEW YORK, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Roy Jacobs & Associates announces that a class action lawsuit has been brought on behalf of shareholders who purchased the securities of Pluralsight, Inc. (“PS” or the “Company”) (“PS”) during the period August 2, 2018 through July 31, 2019, inclusive (the “Class Period”). The action seeks to seeking to recover damages caused by Defendants’ violations of the federal securities laws.
Pluralsight completed a secondary public offering (“SPO”) on March 6, 2019, whereby it sold 15.6 million shares at a price of $29.25 per share, for gross proceeds of over $450 million. Any stockholder who purchased shares on that date may have special rights of recovery. In addition, person who have owned shares from before March 6, 2019 to the present may have rights to seek damages for the corporation. If you fall into one of these categories, the attorneys below can explain your rights free of charge.
Pluralsight is a provider of cloud-based and video training courses for employees such as software developers, IT administrators, and creative professionals. Pluralsight completed a secondary public offering (“SPO”) on March 6, 2019, whereby it sold 15.6 million shares at a price of $29.25 per share, for gross proceeds of over $450 million. The SPO served as a massive cash-out for Pluralsight insiders, as all the proceeds went to insiders and related parties; and none of the money went to the Company. developments or initiatives.
On July 31, 2019, after the close of the markets, Pluralsight announced disappointing financial results for the second quarter ended June 30, 2019, disclosing that its billings growth rate had sharply deteriorated. The Company blamed its declining growth in billings on sales execution challenges and other issues with its salesforce. Pluralsight also disclosed that its Chief Revenue Officer was resigning. In response to these disclosures, Pluralsight’s share price plummeted. The stock price fell $12.13 per share in a single day – a nearly 40% drop – to close at $18.56 per share on August 1, 2019.
Investors who purchased or otherwise acquired or who have held the securities of PS during the Class Period should contact the Firm at your earliest opportunity.
If you wish to discuss your rights or interests regarding this class action, please contact Roy L. Jacobs Esq. at 888-609-0503 or via e-mail at rjacobs@jacobsclasslaw.com
Contact:
Roy L. Jacobs, Esq.
ROY JACOBS & ASSOCIATES
1-888-609-0503 (toll-free)
rjacobs@jacobsclasslaw.com