Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Splunk Inc. (SPLK)
BENSALEM, Pa., Jan. 19, 2021 /PRNewswire/ -- Law Offices of Howard G. Smith reminds investors of the upcoming February 2, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Splunk Inc. ("Splunk" or the "Company") (NASDAQ: SPLK) common stock between August 26, 2020 and December 2, 2020, inclusive (the "Class Period").
Investors suffering losses on their Splunk investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On December 2, 2020, after the market closed, Splunk announced its third quarter 2021 financial results in a press release. Therein, the Company reported total revenue of $559 million, down 11% year-over-year. The Company also announced quarterly non-GAAP earnings per share of -$0.07, missing estimates by 15 cents. Also, analysts at JPMorgan were "blindsided by the magnitude of too many large deals slipping in the final days of October."
On this news, the Company's stock price fell by $47.88 per share, or approximately 23%, to close at $158.03 per share on December 3, 2020.
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Splunk was not closing deals with its largest customers in the third fiscal quarter of 2021; (2) Splunk was not hitting the financial targets it had previously announced; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Splunk common stock during the Class Period, you may move the Court no later than February 2, 2021 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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SOURCE Law Offices of Howard G. Smith
