NEW YORK, Oct. 7, 2016 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Pure Storage, Inc. ("Pure Storage") (NYSE: PSTG) pursuant to the Company's initial public offering ("IPO") on or around October 7, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the Superior Court of the State of California, County of San Mateo. If you purchased or otherwise acquired Pure Storage securities pursuant to the initial public offering your rights may be affected by this action. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that the Registration Statement filed with the U.S. Securities and Exchange Commission for the IPO contained materially false and misleading statements and/or failed to disclose: (a) that its sales personnel had aggressively pulled sales forward into the quarters prior to the IPO, resulting in less sales in the quarters ending after the IPO; (b) that general trends in the IT market, as well as Pure Storage's own past sales trends, showed that its first quarter 2017 sales growth for the quarter ending April 30, 2016, would be significantly lower than prior quarters; (c) and that the Company's concomitant increases in sales and marketing and general and administrative expenses were not one-time expenses attributable to increasing the size of its sales force, but would continue indefinitely.
If you suffered a loss in Pure Storage and would like to obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/pure-storage-pstg.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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SOURCE Levi & Korsinsky, LLP