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Investor Alert: Kaplan Fox Investigates Guideware Software Inc. For Potential Securities Fraud

2020-08-04 14:33 ET - News Release

NEW YORK, Aug. 4, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Guidewire Software Inc. ("Guidewire" or the "Company") (NASDAQ: GWRE).  A complaint has been filed on behalf of investors that purchased Guidewire common stock between March 6, 2019 and March 4, 2020, inclusive (the "Class Period").

On March 4, 2020, after market, Guidewire announced its financial results for the second quarter of fiscal year 2020 and slashed its full-year revenue guidance by $57 million, from a range of $759 million to $771 million to only $702 million to $714 million.  Guidewire also cut its Annual Recurring Revenue guidance from a range of 14% to 16%, down to 11% to 12% for the third quarter of 2020.  According to the complaint, during the earnings conference call, Guidewire indicated that the Company's cloud products needed to be improved in order to meet customer needs and successfully compete against rival systems, and also revealed that a large swath of Guidewire customers no longer wanted the Company's traditional on-premise products and had not adopted Guidewire's cloud products. 

On March 5, 2020, Guidewire's stock price plummeted $18.92 per share, nearly 17%, to close at $93.56 per share.

If you are a member of the proposed Class, you may move the court no later than September 23, 2020 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 646-315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

 

View original content:http://www.prnewswire.com/news-releases/investor-alert-kaplan-fox-investigates-guideware-software-inc-for-potential-securities-fraud-301105942.html

SOURCE Kaplan Fox & Kilsheimer LLP

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