AP NEWS
Click to copy
Press release content from Business Wire. The AP news staff was not involved in its creation.
Click to copy
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Shareholder Alert: Robbins Arroyo LLP Reminds Investors Box, Inc. (BOX) Sued for Misleading Shareholders

September 10, 2019

SAN DIEGO & REDWOOD CITY, Calif.--(BUSINESS WIRE)--Sep 10, 2019--

Shareholder rights law firm Robbins Arroyo LLP reminds shareholders that a purchaser of Box, Inc. (NYSE: BOX) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between November 28, 2018 and June 3, 2019. Box provides a cloud content management platform that enables secure access to content.

If you suffered a loss as a result of Box’s misconduct, click here.

Box, Inc. (BOX) Accused of Misleading Investors

According to the complaint, in November 2018, Box announced its third quarter 2018 financial results and touted its more than 40% growth in deals worth over $100,000. However, Box failed to disclose that it would be unable to close those large deals within the quarter. In February 2019, Box reported fourth quarter revenue that fell below investors’ expectations, citing longer sales cycles for seven-figure deals. On this news, Box’s share price fell $4.64, or nearly 19%, to close at $20.24 on February 28, 2019. In June 2019, Box lowered its fiscal 2020 revenue outlook to a range of $688 million to $692 million, from previous guidance of $700 million to $704 million, again citing longer sales cycles for its larger deals. On this news, Box’s share price fell as much as $1.30, or more than 7%, to close at $17.18 per share on June 4, 2019.

Box, Inc. (BOX) Shareholders Have Legal Options

Contact us to learn more:
Leo Kandinov
(800) 350-6003
lkandinov@robbinsarroyo.com
Shareholder Information Form

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190910006176/en/

CONTACT: Leo Kandinov

Robbins Arroyo LLP

5040 Shoreham Place

San Diego, CA 92122

lkandinov@robbinsarroyo.com

(619) 525-3990 or Toll Free (800) 350-6003

www.robbinsarroyo.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Robbins Arroyo LLP

Copyright Business Wire 2019.

PUB: 09/10/2019 07:43 PM/DISC: 09/10/2019 07:43 PM

http://www.businesswire.com/news/home/20190910006176/en

All contents © copyright 2019 The Associated Press. All rights reserved.