|Company name||Micro Focus International plc|
|Class period||September 17, 2017 – May 23, 2018|
|Lead plaintiff deadline||July 23, 2018|
|Court||California Northern District Court|
NEW YORK, May 29, 2018 – Bragar Eagel & Squire, P.C. announces to investors that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Micro Focus International plc (NYSE: MFGP) between September 17, 2017 and May 23, 2018 (the “Class Period”). Investors have until July 23, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that 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
If you purchased or otherwise acquired Micro Focus securities during the Class Period or continue to hold shares purchased during the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.