Recent Securities Litigations
Tableau Software, Inc. (NYSE: DATA)
According to the law firm press release, the complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) product launches and upgrades by major software competitors were negatively impacting Tableau's competitive position and profitability; and (2) as a result of the foregoing, Tableau's financial statements were materially false and misleading at all relevant times.
On August 7, 2015, Tableau filed a quarterly report on Form 10-Q reaffirming financial results issued in a July 29, 2015 press release. Then on February 4, 2016, Tableau disclosed slowing revenue. In a related earnings call, the Company's CEO stated: "the competitive dynamic has become more crowded and difficult." Following this news, shares of Tableau stock fell $44.53 per share over two trading sessions, closing at $37.22 per share on February 8, 2016.