Robbins Arroyo LLP: Tableau Software, Inc. (DATA) Misled Shareholders According to a Recently Filed Shareholder Lawsuit
SAN DIEGO & SEATTLE--(BUSINESS WIRE)--Aug 10, 2018--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Tableau Software, Inc. (NYSE: DATA) have filed a complaint against the company’s officers and directors for alleged breaches of fiduciary duties, unjust enrichment, and violations of the Securities Exchange Act of 1934. Tableau provides business analytics software products.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/tableau-software-inc-aug-2018/
Tableau Accused of Downplaying Competitive Threats
According to the complaint, Tableau assured the public in press releases, presentations, and conference calls that the company would not suffer from competitive pressures, even though several companies had released products that would compete with Tableau’s offerings. Tableau downplayed competitive threats until February 4, 2016, when the company revealed that it expected its 2016 first quarter revenue growth rate to decline approximately 25% on a year-over-year basis and finally admitted that its competitors’ aggressively priced software was taking a toll on Tableau’s business. Tableau also indicated that it would probably not be able to generate sufficient income to realize the benefits of its deferred tax assets. On this news, Tableau’s stock price fell over 54% to close at $37.22 per share on February 8, 2016.
Tableau Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
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. Sign up for our FREE portfolio monitoring service, Stock Watch.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20180810005425/en/
CONTACT: Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Arroyo LLP
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PUB: 08/10/2018 04:15 PM/DISC: 08/10/2018 04:15 PM