SHAREHOLDER NOTICE: Pawar Law Group Announces a Securities Class Action Lawsuit Against Micro Focus International plc – MFGP
Jul 13, 2018
NEW YORK, NY / ACCESSWIRE / July 12, 2018 / Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of the American Depository Shares of Micro Focus International plc (NYSE: MFGP) pursuant or traceable to the Micro Focus's Registration Statement and Prospectus issued in connection with the merger of Micro Focus with Hewlett Packard Enterprise Company ("HPE"), and their subsidiaries that closed on September 1, 2017 (the "Merger").
To join the Micro Focus class action, go to http://pawarlawgroup.com/cases/micro-focus-international-plc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) HPE Software was experiencing significant disruptions in global customer accounts from its de-merger from HP; (2) HPE Software and Micro Focus were experiencing employee attrition, which adversely impacted Micro Focus's operational capabilities and revenue trends; (3) Micro Focus was suffering worsening revenue trends and on pace to significantly miss market expectations for its interim results in its core legacy business for the six months ended October 31, 2017; (4) Micro Focus was experiencing significant sales execution problems in its North America region; (5) HPE Software did not have the operational capabilities, loyal customer base, products or key personnel to justify its purchase price or to reverse worsening revenue trends; (6) Micro Focus had failed to put in place the operations, procedures and personnel necessary to integrate successfully with HPE Software to provide a reasonable likelihood that the purported synergies from the Merger would be realized; (7) the total enterprise value for the Merger was artificially inflated by more than $3.4 billion; and (8) as a result Micro Focus's ability to service the increased debt load it had incurred as a result of the Merger had been materially impaired. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 23, 2018. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/micro-focus-international-plc/ to join the class action. You may also contact Vik Pawar of Pawar Law Group toll free at 888-589-9804 or via email at [email protected].
Pawar Law Group represents investors from around the world.
Vik Pawar, Esq.
Pawar Law Group P.C
20 Vesey Street Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Toll Free: 888-589-9804
Fax: (212) -571-0938
[email protected]
www.pawarlawgroup.com
SOURCE: Pawar Law Group
ReleaseID: 505149
July 12, 2018 /AccessWire/ —
NEW YORK, NY / ACCESSWIRE / July 12, 2018 / Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of the American Depository Shares of Micro Focus International plc (NYSE: MFGP) pursuant or traceable to the Micro Focus's Registration Statement and Prospectus issued in connection with the merger of Micro Focus with Hewlett Packard Enterprise Company ("HPE"), and their subsidiaries that closed on September 1, 2017 (the "Merger").
To join the Micro Focus class action, go to http://pawarlawgroup.com/cases/micro-focus-international-plc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) HPE Software was experiencing significant disruptions in global customer accounts from its de-merger from HP; (2) HPE Software and Micro Focus were experiencing employee attrition, which adversely impacted Micro Focus's operational capabilities and revenue trends; (3) Micro Focus was suffering worsening revenue trends and on pace to significantly miss market expectations for its interim results in its core legacy business for the six months ended October 31, 2017; (4) Micro Focus was experiencing significant sales execution problems in its North America region; (5) HPE Software did not have the operational capabilities, loyal customer base, products or key personnel to justify its purchase price or to reverse worsening revenue trends; (6) Micro Focus had failed to put in place the operations, procedures and personnel necessary to integrate successfully with HPE Software to provide a reasonable likelihood that the purported synergies from the Merger would be realized; (7) the total enterprise value for the Merger was artificially inflated by more than $3.4 billion; and (8) as a result Micro Focus's ability to service the increased debt load it had incurred as a result of the Merger had been materially impaired. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 23, 2018. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/micro-focus-international-plc/ to join the class action. You may also contact Vik Pawar of Pawar Law Group toll free at 888-589-9804 or via email at [email protected].
Pawar Law Group represents investors from around the world.
Vik Pawar, Esq.
Pawar Law Group P.C
20 Vesey Street Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Toll Free: 888-589-9804
Fax: (212) -571-0938
[email protected]
www.pawarlawgroup.com
SOURCE: Pawar Law Group
ReleaseID: 505149
Source: AccessWire
Release ID: 376933
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