Tableau Software, Inc.
Robbins Arroyo LLP: Tableau Software, Inc. (DATA) Misled Shareholders According to a Recently Filed Class Action
Robbins Arroyo LLP announces that a class action complaint was filed against Tableau Software, Inc. (NYSE: DATA) in the U.S. District Court for the Southern District of New York. The complaint is brought on behalf of all purchasers of Tableau securities between June 3, 2015 and February 4, 2016, for alleged violations of the Securities Exchange Act of 1934 by Tableau’s officers and directors. Tableau provides business analytics software products.
Tableau Accused of Hiding Slowing Revenue
According to the complaint, Tableau officials failed to disclose that product launches and upgrades by major software competitors were negatively impacting Tableau’s competitive position and profitability. On July 29, 2015, Tableau reported a deceleration in its license revenue growth, yet the company increased its guidance for full-year revenue to between $617 and $627 million. On January 7, 2016, Tableau announced that Kelly Wright, Executive Vice President of Sales, was leaving the company by the end of 2016. Then, on February 4, 2016, Tableau revealed its slowing revenue, citing a crowded and difficult competitive dynamic. On this news, Tableau’s stock dropped to $44.53 per share, or approximately 54%, to close at $37.22 per share on February 8, 2016.
Tableau Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, or you can complete the form below and we will contact you directly.