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Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Pluralsight, Inc. (PS)

/EIN News/ -- NEW YORK, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Pluralsight, Inc. (“Pluralsight” or the “Company”) (NASDAQ: PS) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Pluralsight between August 2, 2018 and July 31, 2019, inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.

The Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (1) Pluralsight was experiencing sales execution challenges which impacted its billings; (2) Pluralsight was experiencing substantial delays in hiring and properly training its salesforce that would be necessary to meet its lofty billing projections; (3) 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) as a result, Pluralsight’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the October 15, 2019 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.

Distribution channels: Consumer Goods, Media, Advertising & PR


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