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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 2, 2021 to file lead plaintiff applications in a securities class action lawsuit against Splunk Inc. (NasdaqGS: SPLK).
Splunk and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 2, 2020, post-market, the Company disclosed disappointing financial results for 3Q2021 ended October 31, 2020 including total revenues of $559 million, down 11% year-over-year and which missed estimates by nearly $60 million, a loss of 7 cents per share versus an expected gain of 8 cents per share, and a lower than expected forecast for 4Q2021, leading numerous analysts to downgrade the stock and cut their price targets.
On this news, the price of Splunk’s shares plummeted over 23% in one trading day from their December 2, 2020 closing price, representing billions of dollars in lost market capitalization.
If you purchased shares of Splunk and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or fill out the form on this page.
The case is Pavlova-Coleman v. Splunk Inc., et al., No. 3:20-cv-8600.
Click here to read the case complaint.