A lawsuit was filed on behalf of investors in Palantir Technologies Inc. (NYSE:PLTR) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/28/2022 -- An investor, who purchased shares of Palantir Technologies Inc. (NYSE: PLTR), filed a lawsuit over alleged violations of Federal Securities Laws by Palantir Technologies Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Palantir Technologies Inc. (NYSE: PLTR) have certain options and for certain investors are short and strict deadlines running. Deadline: November 14, 2022. NYSE: PLTR investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Denver, CO based Palantir Technologies Inc. builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. Palantir Technologies Inc has two operating segments, commercial and government, with the latter primarily serving agencies in the U.S. federal government and non-U.S. governments. Palantir Technologies Inc also invests in so-called "marketable securities" consisting of equity securities in publicly-traded companies.
Palantir Technologies Inc has consistently described sources of geopolitical instability and other disruptions—e.g., armed conflicts, economic crises, and the COVID-19 pandemic—as tailwinds for its business, given that the Company's products and services are purportedly built to aid its customers in assessing and responding to such disruptions.
On May 9, 2022, Palantir Technologies Inc. released its first quarter 2022 financial results, announcing an adjusted earnings per share of $0.02, compared to analyst estimates of $0.04 per share, which "include[d] a negative $0.02 impact driven primarily by unrealized losses on marketable securities." Palantir Technologies Inc. also disclosed that government revenue had grown by only 16% year-over-year.
The plaintiff claims that between November 9, 2021 and May 6, 2022, the Defendants made false and/or misleading statements and/or failed to disclose that Palantir's investments in marketable securities were having a significant negative impact on the Company's earnings per share ("EPS") results, that Palantir overstated the sustainability of its government segment's growth and revenues, that Palantir was experiencing a significant slowdown in revenue growth, particularly among its government customers, despite ongoing global conflicts and market disruptions, that as a result of all the foregoing, the Company was likely to miss consensus estimates for its first quarter 2022 ("Q1") EPS and second quarter 2022 ("Q2") sales outlook, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Palantir Technologies Inc. (NYSE: PLTR) have certain options and should contact the Shareholders Foundation.
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