Guidewire Software Inc. Common Stock (NYSE: GWRE)
According to the Complaint, Guidewire Software, Inc. provides enterprise-level software products and services for the global P&C insurance market. The Company’s software systems are designed to help insurance carriers improve their operational efficiency, speed to market, and customer experience by providing a central source for all customer, transactional, and financial data.
The Complaint alleges that during the Class Period, the Defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated the prices of Guidewire common stock and operated as a fraud or deceit on Class Period purchasers of Guidewire common stock. The Complaint further alleges that Defendants failed to disclose to investors that the Company’s financial results were materially misleading and misrepresented material information. When the Defendants’ alleged misrepresentations and fraudulent conduct were disclosed and became apparent to the market, the prices of Guidewire common stock fell precipitously as the prior inflation came out of the Company’s stock price. As a result of their purchases of Guidewire common stock during the Class Period, Plaintiff and the other Class members suffered economic loss.