| COMPANY |
VMWare, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
20-cv-02182 |
| JUDGE |
The Honorable Edward John Davila |
| CLASS PERIOD |
August 24, 2018 – February 27, 2020 |
| SECURITY TYPE |
All Securities |
Case Background:
On March 31, 2020, the initial complaint in this securities class action was filed against VMware, Inc. (“VMware” or the “Company”), and certain of VMware’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought behalf of all persons who purchased or otherwise acquired VMware securities between August 24, 2018, and February 27, 2020, (the “Class Period”) both dates inclusive.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies.
Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) VMware’s reporting with respect to its backlog of unfilled orders was not in compliance with all relevant accounting and disclosure requirements; (2) 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.
Current Status of Case:
On July 2, 2024, the Court entered an Order granting Motion for Class Certification. Lead Plaintiff filed a Motion for Preliminary Approval of Settlement on October 10, 2024. On November 26, 2024, the Court entered an Order Preliminarily Approving Settlement and scheduled a Final Settlement Hearing on March 31, 2025. This action is ongoing.
The deadline to file a claim is March 17, 2025. If you have any questions or need further information about this settlement, you may go to the following website: www.VMwareSecuritiesLitigation.com, or you can contact the claims administrator, Gilardi & Co., at 1-888-298-5840.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.