NetApp Inc
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | NetApp Inc |
Stock Symbol : | NASDAQ: NTAP |
Class Period Start: | 05/22/2019 |
Class Period End: | 08/01/2019 |
Lead Plaintiff motion: | 10/15/2019 |
Date Filed: | 08/14/2019 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Northern District of California |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the October 15, 2019 lead plaintiff deadline in a class action lawsuit filed against NetApp Inc (NASDAQ: NTAP) (“NetApp” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of California and investors, who purchased NetApp Inc securities between May 22, 2019 and August 1, 2019, have until October 15, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased NetApp Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that the Company was unable to close large deals within the quarter and that the deals were pushed out to subsequent quarters or downsized; as a result, the Company’s revenue would be materially impacted; as a result, the Company would lower its fiscal 2020 guidance; and as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. On August 1, 2019, the Company reported preliminary first quarter 2019 adjusted earnings per share of $0.55 to $0.60, below the average estimate of $0.83, and net revenue of $1.22 billion to $1.23 billion, below the average estimate of $1.39 billion. Furthermore, the Company lowered its 2020 outlook and expected net revenue to decline between 5% and 10% year-over-year. Following this news, NASDAQ: NTAP fell from $57.71 on August 1, 2019 to $46.04 on August 2, 2019. If you were negatively impacted by your investment in NetApp Inc securities between May 22, 2019 and August 1, 2019 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Materials are provided for informational purposes only and do not constitute legal advice. We are only licensed to practice law in Germany. We are neither licensed nor qualified to render advice on US Federal or State law. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185 |