SHAREHOLDER ALERT: Kessler Topaz Meltzer & Check, LLP Announces Securities Fraud Class Action Lawsuit Filed Against Splunk Inc. | State
RADNOR, Pa., January 19, 2021 / PRNewswire / – Kessler Topaz Meltzer & Check, LLP law firm is reminding investors of Splunk Inc. (NASDAQ: SPLK) (“Splunk”) that they have filed a class action lawsuit for securities fraud on behalf of those who have bought or otherwise acquired became Splunk common stock between October 21, 2020 and December 2, 2020including (the “Class Period”).
REMINDER: Investors who have purchased or otherwise acquired Splunk common stock during class time, not later than February 2, 2021try to be appointed as the plaintiff’s principal representative of the class. For more information or to learn how to participate in this litigation, please contact Kessler Topaz Meltzer & Check, LLP (James Maro, Esq. (484-270-1453) or Adrienne Bell, Esq. (484-270-1435); toll free at (844) 887-9500; per email to firstname.lastname@example.org; or click https://www.ktmc.com/splunk-inc-securities-class-action?utm_source=PR&utm_medium=link&utm_campaign=splunk
According to filings with the SEC, Splunk “offers innovative software solutions that ingest and flip data from a variety of sources including systems, devices, and interactions[s] This data feeds into key business insights across the enterprise. “Splunk states that the ‘data-to-everything’ platform enables users to explore, monitor, analyze, and act on data regardless of format or source.”
The lesson begins on October 21, 2020when Splunk held a call with multiple analysts at .conf.20 at the Virtual Analyst & Investor Session. On that call, Splunk assured investors that everything was on the right track by the end of the third quarter, just ten days after the call.
However, the truth about the third quarter was revealed after the market closed December 2, 2020When Splunk announced its financial results for the third fiscal quarter of 2021, Splunk reported total revenues of in its announcement $ 559 millioncompared to the previous year fell by 11% and almost missed the estimates $ 60 million. In addition, Splunk announced quarterly non-GAAP earnings per share of -.$ 0.07, missing estimates of $ 0.15and GAAP earnings per share of –$ 1.26, missed by $ 0.24 per share.
Following the news, Splunk common stock fell and closed $ 158.03 per share on 3rd December 2020to over 23% over the December 2, 2020 Closing price from $ 205.91 per share.
The complaint alleges that throughout the class period, Defendants misrepresented and / or failed to disclose to investors that: (1) Splunk did not do any business with its largest customers in the third fiscal quarter of 2021; (2) Splunk did not meet the previously announced financial targets. and (3) As a result of the foregoing, Defendants’ public statements at all relevant times have been materially false and misleading.
Investors interested in discussing this class action lawsuit for securities fraud and its legal options are invited to contact Kessler Topaz Meltzer & Check, LLP (James Maro Jr., Esq. or Adrienne Bell, Esq.) at (844) 887-9500 (toll free) or at email@example.com.
Splunk Investors can not later than February 2, 2021, attempt to be appointed plaintiff’s principal representative of the class by Kessler Topaz Meltzer & Check, LLP, or other lawyer, or choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the dispute. To be named lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members and that the class member is adequately representing the class. Your ability to get involved in a recovery will not be affected by whether or not you will be the lead plaintiff.
Kessler Topaz Meltzer & Check, LLP, pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other federal and state law violations. Kessler Topaz Meltzer & Check, LLP, is a driving force behind corporate governance reform and has collected billions of dollars on behalf of institutional and individual investors The United States and all over the world. The company represents investors, consumers and whistleblowers (individuals who report fraudulent practices against the government and are involved in recovering government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro Jr., Esq.
Adrienne Bell, Esq.
280 Street of the King of Prussia
Radnor, PA 19087
(844) 887-9500 (toll free)