SOURCE: Holzer Holzer & Fistel, LLC

Jan 19, 2009 15:51 ET

Holzer Holzer & Fistel, LLC Reminds Investors Who Purchased or Otherwise Acquired VMware, Inc. Common Stock Between April 22, 2008 and July 22, 2008 of the Upcoming January 23, 2009 Lead Plaintiff Deadline -- VMW

ATLANTA, GA--(Marketwire - January 19, 2009) - Holzer Holzer & Fistel, LLC reminds 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.

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.

If you are a purchaser of VMware common stock during the Class Period with significant losses and are interested in petitioning the Court to be appointed lead plaintiff, you are encouraged to contact Michael I. Fistel Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made on or before January 23, 2009. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.