A lawsuit was filed on behalf of investors in Splunk Inc. (NASDAQ:SPLK) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 12/16/2020 -- An investor, who purchased NASDAQ: SPLK shares, filed a lawsuit against Splunk Inc. over alleged violations of Federal Securities Laws.
Investors who purchased shares of Splunk Inc. (NASDAQ: SPLK) have certain options and for certain investors are short and strict deadlines running. Deadline: February 2, 2021. NASDAQ: SPLK investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
After the markets closed on December 2, 2020, Splunk Inc. stunned the market when it announced its financial results for the third quarter of 2021. These results fell short of annual recurring and total revenue estimates, and Splunk reported a loss of 7 cents per share versus an expected gain of 8 cents per share. Splunk's forecast for the fourth quarter of 2020 was also lower than expected. Numerous analysts have already downgraded the stock and cut their price targets. This includes JPMorgan, who was "blindsided by the magnitude of too many large deals slipping in the final days of October on the heels of an upbeat analyst day 10 days prior to the quarter close," on October 21, 2020, "at which the company reaffirmed guidance and stated that it was excited about near-term and long-term growth prospects." Shares of Splunk Inc. (NASDAQ: SPLK) declined from $207.41 per share on December 1, 2020 to as low as $153.30 per share on December 7, 2020.
The plaintiff claims that between October 21, 2020 and December 2, 2020, the Splunk Inc. made materially false and/or misleading statements and/or failed to disclose that Splunk Inc. was not closing deals with its largest customers in the third fiscal quarter of 2021, and that Splunk Inc. was not hitting the financial targets it had previously announced.
Those who purchased shares of Splunk Inc. (NASDAQ: SPLK) have certain options and should contact the Shareholders Foundation.
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