NEW YORK, NY / ACCESSWIRE / July 27, 2019 / Pomerantz LLP is investigating claims on behalf of investors of Box, Inc. (“Box” or the “Company”) (NYSE: BOX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Box and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 27, 2019, Box reported fourth quarter revenue that fell below investor expectations, citing longer sales cycles for seven-figure deals. On this news, Box’s stock price fell $4.64 per share, or 18.65%, to close at $20.24 per share on February 28, 2019.
Then, on June 3, 2019, post-market, Box lowered its fiscal year 2020 revenue outlook to a range of $688 million to $692 million, down from previous guidance of $700 million to $704 million, again citing longer sales cycles for the Company’s larger deals. On this news, Box’s stock price fell $0.75 per share, or 4.18%, to close at $17.18 per share on June 4, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP