NEW YORK, May 22, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Dell, Inc. ("Dell" or the "Company") (CUSIP: 24702R101). Investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 237.
The investigation concerns whether Dell and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 22, 2012, Dell issued a press release disclosing that the revenues for its fiscal 2013 first quarter, the period ended May 4, 2012, were approximately one half billion dollars less than Dell's guidance and Wall Street estimates. The Company attributed its revenue shortfall as being primarily due to the Company's decision to forgo notebook and PC sales in markets experiencing significant pricing pressures, particularly in Asia, and the weak demand for Dell's products in its Europe, the Middle East and Africa, and Asia-Pacific and Japan, markets and poor sales force productivity and execution.
On this news, shares of Dell fell more than 17%, on intraday trading, on unusually heavy trading volume.
The Pomerantz Firm, with offices in New York, Chicago, San Diego, and Florida, 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 70 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.
Robert S. Willoughby
SOURCE Pomerantz LLP