Pivotal Software Escapes Investors' Stock-Drop Suit

Law360 (July 21, 2020, 11:10 PM EDT) -- A California federal judge on Tuesday tossed a proposed class action against cloud platform company Pivotal Software Inc. that had alleged its stock price dropped after the company made deceptive statements about its products and finances.

U.S. District Judge Charles R. Breyer granted Pivotal's March 27 motion to dismiss "because plaintiffs fail to plausibly allege that any statement was false or misleading."

Pivotal, a San Francisco-based information technology and software company, provided a cloud-native application platform — Pivotal Cloud Foundry — and strategic services.

The proposed class action accused the company of leaving important information off its registration statement and prospectus...

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