DENVER, Jan. 12, 2009 (GLOBE NEWSWIRE) -- Dyer & Berens LLP (www.DyerBerens.com) today reminded investors who purchased or otherwise acquired the common stock of VMware, Inc. ("VMware" or the "Company") (NYSE:VMW) between April 22, 2008 and July 22, 2008, inclusive (the "Class Period") of the upcoming January 23, 2009 deadline to seek a lead plaintiff appointment in the class action filed in the United States District Court for the Central District of California.
If you purchased or otherwise acquired VMware common stock during the Class Period, you may, no later than January 23, 2009, request that the court appoint you as a lead plaintiff for the Class. A lead plaintiff is a class member that acts on behalf of other investors in directing the litigation. Although your ability to share in any recovery is not affected by your decision to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for all class members.
For a free consultation regarding your rights and interests with respect to the pending lawsuit, you may contact Jeffrey A. Berens, Esq. at (888) 300-3362, (303) 861-1764 or via email at jeff@dyerberens.com.
The class action complaint charges that two of the Company's senior officers, Diane B. Greene (former President and CEO) and Mark S. Peek (CFO), violated the Securities Exchange Act of 1934 and breached their fiduciary duties by making and/or allowing false and misleading statements concerning the Company's business, operations and prospects. Specifically, the defendants allegedly knew but recklessly disregarded and failed to disclose to the investing public that: (i) the Company was facing increasing competition and lower-priced rival products were lengthening the time it took for VMware to close deals; (ii) customers were taking longer to sign lucrative multi-year enterprise license agreements, and were instead signing smaller, short-term contracts; and (iii) as a result of the foregoing, defendants misrepresented the Company's business and future prospects. The complaint further charges that, during the Class Period, Company insiders took advantage of the undisclosed adverse information by collectively selling 86,541 shares of their personally held VMware common stock for gross proceeds in excess of $5.8 million.
Although at this time, Dyer & Berens LLP has not filed a complaint in this matter, it specializes in complex class action litigation on behalf of injured investors throughout the nation. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to www.DyerBerens.com.