Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Palantir Technologies Inc. (NYSE: PLTR).
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This lawsuit is on behalf of all purchasers of Class A common stock during the period September 30, 2020 to August 5, 2022, including purchases pursuant and/or traceable to documents used in connection with the offer, sale, and direct listing of Palantir Class A common stock on the New York Stock Exchange beginning on or about September 30, 2020.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until November 14, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Palantir Technologies Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) Palantir's investments in marketable securities were having a significant negative impact on the Company's earnings per share ("EPS") results; (ii) Palantir overstated the sustainability of its government segment's growth and revenues; (iii) Palantir was experiencing a significant slowdown in revenue growth, particularly among its government customers, despite ongoing global conflicts and market disruptions; (iv) as a result of all the foregoing, the Company was likely to miss consensus estimates for its first quarter 2022 EPS and second quarter 2022 sales outlook; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:JAKUBOWITZ LAW1140 Avenue of the Americas9th FloorNew York, New York 10036T: (212) 867-4490F: (212) 537-5887
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SOURCE Jakubowitz Law