SAN DIEGO, April 21, 2024 (GLOBE NEWSWIRE) — Robbins Geller Rudman & Dowd LLP proclaims that purchasers or acquirers of Palo Alto Networks Inc. (NASDAQ: NASDAQ:) widespread inventory between August 18, 2023 and February 20, 2024, inclusive (the Class Interval), have till this Friday, April 26, 2024 to hunt appointment as lead plaintiff of the Palo Alto Networks class motion lawsuit. Captioned Schlaegel v. Palo Alto Networks Inc., No. 24-cv-01156 (N.D. Cal.), the Palo Alto Networks class motion lawsuit prices Palo Alto Networks and sure of Palo Alto Networks’ prime executives with violations of the Securities Change Act of 1934.
For those who suffered substantial losses and want to function lead plaintiff of the Palo Alto Networks class motion lawsuit, please present your data right here:
https://www.rgrdlaw.com/cases-palo-alto-networks-inc-class-action-lawsuit-panw.html
You may also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or by way of e-mail at data@rgrdlaw.com. Lead plaintiff motions for the Palo Alto Networks class motion lawsuit have to be filed with the courtroom no later than April 26, 2024.
CASE ALLEGATIONS: Palo Alto Networks is a multinational cybersecurity firm that provides an enterprise cybersecurity platform for community safety, cloud safety, and varied cloud-delivered safety.
The Palo Alto Networks class motion lawsuit alleges that defendants all through the Class Interval made false and/or deceptive statements and/or did not disclose that: (i) Palo Alto Networks’ consolidation and platformization initiatives weren’t driving elevated market share to a big diploma; (ii) Palo Alto Networks would want to ramp up platformization and free product choices to entice prospects to undertake extra of their platforms; (iii) Palo Alto Networks’ excessive development in billings was not sustainable; and (iv) Palo Alto Networks’ new AI choices weren’t facilitating higher platformization and consolidation.
The Palo Alto Networks class motion lawsuit additional alleges that on February 20, 2024, Palo Alto Networks drastically lowered its billings steering for the third quarter, reporting anticipated whole billings development of 2-4% and income development of between 13-15%, which Palo Alto Networks CEO, defendant Nikesh Arora, revealed was a results of accelerated platformization and consolidation and activating our AI management. The criticism additional alleges that defendant Arora additionally revealed that U.S. federal authorities offers for a number of massive initiatives didn’t shut and resulted in a big shortfall in our U.S. federal authorities enterprise that’s anticipated to proceed into the third and fourth quarters of 2024. On this information, the value of Palo Alto Networks widespread inventory fell greater than 28%, based on the criticism.
THE LEAD PLAINTIFF PROCESS: The Non-public Securities Litigation Reform Act of 1995 permits any investor who bought or acquired Palo Alto Networks widespread inventory through the Class Interval to hunt appointment as lead plaintiff within the Palo Alto Networks class motion lawsuit. A lead plaintiff is usually the movant with the best monetary curiosity within the reduction sought by the putative class who can also be typical and enough of the putative class. A lead plaintiff acts on behalf of all different class members in directing the Palo Alto Networks class motion lawsuit. The lead plaintiff can choose a regulation agency of its option to litigate the Palo Alto Networks class motion lawsuit. An investor’s potential to share in any potential future restoration shouldn’t be dependent upon serving as lead plaintiff of the Palo Alto Networks class motion lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is among the world’s main advanced class motion corporations representing plaintiffs in securities fraud instances. The Agency is ranked #1 on the latest ISS Securities Class Motion Providers High 50 Report for recovering greater than $1.75 billion for buyers in 2022 “ the third 12 months in a row Robbins Geller tops the checklist. And in these three years alone, Robbins Geller recovered practically $5.3 billion for buyers, greater than double the quantity recovered by every other plaintiffs’ agency. With 200 attorneys in 10 places of work, Robbins Geller is among the largest plaintiffs’ corporations on the planet and the Agency’s attorneys have obtained lots of the largest securities class motion recoveries in historical past, together with the biggest securities class motion restoration ever “ $7.2 billion “ in In re Enron Corp. Sec. Litig. Please go to the next web page for extra data:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Contact:
Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
data@rgrdlaw.com
