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Case Status:    SETTLED  
—On or around 10/28/2024 (Date of last review)
Current/Last Presiding Judge:  
Hon. Edward J. Davila

Filing Date: March 31, 2020

According to the Complaint, VMware, Inc. provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces in the United States and internationally, and sells its products through distributors, resellers, system vendors, and systems integrators.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) VMware’s reporting with respect to its backlog of unfilled orders was not in compliance with all relevant accounting and disclosure requirements; (ii) the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny and/or investigation; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On July 20, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on September 18. Defendants filed a Motion to Dismiss the consolidated Complaint on November 17. On September 10, 2021, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

On October 8, 2021, Lead Plaintiff filed a second amended consolidated Complaint. Defendants filed a Motion to Dismiss the second amended consolidated Complaint on November 5. On March 31, 2023, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. Lead Plaintiff filed a third amended consolidated Complaint on April 6, 2023.

On January 16, 2024, Lead Plaintiff filed a Motion for Class Certification. The Court issued an Order granting the Motion for Class Certification on July 2.

The parties entered into a Stipulation of Settlement on October 4, 2024.

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