NEW YORK, Nov. 3, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Commvault Systems, Inc. ("Commvault" or the "Company") (NASDAQ: CVLT), concerning whether the board has breached its fiduciary duties to shareholders.
According to a securities class action pending against the Company in the U.S. District Court for the District of New Jersey (C.A. No. 14-cv-5628), Commvault engaged in a wide variety of improper accounting during 2014, primarily through the improper recognition of revenue. According to the complaint in the securities class action, this was done in part to achieve quarterly results in line with analyst expectations.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Commvault shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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