An investigation for investors in Cognyte Software Ltd. (NASDAQ: CGNT) shares over potential securities laws violations by Cognyte Software Ltd. was announced.
San Diego, CA -- (SBWIRE) -- 06/16/2022 -- Cognyte Software Ltd. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Cognyte Software Ltd. (NASDAQ: CGNT), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Cognyte Software Ltd. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Israel based Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. On April 5, 2022, Cognyte Software Ltd. reported its fourth quarter 2021 financial results, including revenue of $125 million, which was about $3.5 million below the midpoint of the Company's own guidance. Cognyte cited "lower conversions within its product pipeline," along with supply chain issues. During the related conference call, Cognyte's Chief Executive Officer stated that "a longer sales cycle [resulted] in the lower-than-expected bookings in Q4" and acknowledged that management "didn't execute well."
Shares of Cognyte Software Ltd. (NASDAQ: CGNT) declined from $12.82 per share on March 23, 2022, to as low as $5.92 per share on June 14, 2022.
Those who purchased shares of Cognyte Software Ltd. (NASDAQ: CGNT) have certain options and should contact the Shareholders Foundation.
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