NEW YORK, Sept. 15, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of CommVault Systems, Inc. ("CommVault" or the "Company") (NASDAQ: CVLT), concerning whether the board has breached its fiduciary duties to shareholders.
Since at least May 2013, CommVault's public disclosures assured investors that the Company was increasing its investment in sales and marketing staff. However, when, on April 25, 2014, the Company announced disappointing quarterly results, it blamed the results in part on inadequate staffing of sales and marketing personnel. The Company disclosed that contrary to its assurances, sales and marketing expenses as a percentage of total revenues decreased 12% from the prior year.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own CommVault shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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