Court Terminates Tableau Software, Inc. (DATA) Securities Class Action Motion to Dismiss
Robbins LLP is investigating whether certain officers and directors of Tableau Software, Inc. (NYSE: DATA) breached their fiduciary duties to shareholders. Purchasers of Tableau filed a securities class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between February 5, 2015 and February 4, 2016. According to the complaint, Tableau downplayed competitive threats until February 4, 2016, when the company revealed that it expected the company’s 2016 first quarter revenue growth rate to decline approximately 25% on a year-over-year basis, finally signaling to the market the true adverse effect of Tableau’s competitors on the business. On July 2, 2018, U.S. District Judge John G. Koeltl ordered that defendants’ motion to dismiss plaintiff’s second amended complaint be closed, paving the way for litigation to proceed.