LEAD PLAINTIFF DEADLINE IS FEBRUARY 2, 2021
NEW YORK, Dec. 08, 2020 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of those who acquired Splunk Inc. (“Splunk” or the “Company”) (NASDAQ: SPLK) securities during the period from October 21, 2020 through December 2, 2020 (the “Class Period”).
If you have incurred losses in the shares of Splunk Inc., you may, no later than February 2, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Splunk Inc.
On December 2, 2020, after the market closed, Splunk announced its third quarter 2021 financial results in a press release. The Company reported total revenue of $559 million, well below prior guidance expecting between $600 and $630 million. Splunk attributed the shortfall to “uncertainty and volatility for macro factors” that “cause[d] customers to delay spending commitments, particularly for high-value contracts.”
Analysts at BTIG wrote that this explanation “is fairly confusing given that most peers in the software space (and particularly in security software) saw relatively strong trends.” Additionally, analysts at JPMorgan were “blindsided by the magnitude of too many large deals slipping in the final days of October.”
On this news, Splunk’s stock price fell by $47.88 per share, or approximately 23%, to close at $158.03 per share on December 3, 2020.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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New York, New York, UNITED STATES
