NEW YORK, Aug. 23, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Pivotal
Software, Inc. ("Pivotal Software" or the "Company") (NYSE:
PVTL) in connection with the proposed acquisition of the Company by
VMWare, Inc. (NYSE: VMW). Under the terms of the acquisition
agreement, PVTL shareholders will receive $15.00 per share in cash.
If you own PVTL shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
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website
http://www.weisslawllp.com/pivotal-software-inc/
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WeissLaw is investigating whether Pivotal Software's
Board acted to maximize shareholder value prior to entering
into the acquisition agreement. Specifically, VMWare's tender
offer price of $15.00 is
significantly below Pivotal Software's 52-week high of $29.15.
WeissLaw is concentrating its investigation on whether the
acquisition enhances shareholder value. Notably, the
Company's first quarter 2020 revenue topped estimates, increasing
19.3% to $185.7 million
year-over-year. This growth is due mostly to higher revenue
from its subscription software.
Additionally, Dell Technologies Inc. ("Dell") may be on both
sides of the transaction. Michael
Dell and Dell own 131.3 million shares of PVTL Class B
stock, while VMWare, which is also owned by Dell, holds 44.2
million shares of PVTL Class B stock.
Given these facts, WeissLaw is also concerned whether the
proposed acquisition undervalues the Company, and whether all
material information related to the proposed acquisition is fully
and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
