Splunk Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against Splunk Inc. (NASDAQ: SPLK); Lead Plaintiff Deadline is February 2, 2021
PHILADELPHIA, Jan. 5, 2021 /PRNewswire/ -- Berger Montague is investigating potential securities fraud claims against Splunk, Inc. (“Splunk” or the “Company”) on behalf of investors who purchased Splunk securities (NASDAQ: SPLK) between October 21, 2020 and December 2, 2020 (the “Class Period”).
If you purchased Splunk securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague’s investigation, please contact attorneys Andrew Abramowitz at firstname.lastname@example.org or (215) 875-3015, or Donnell Much at email@example.com or (215) 875-4667, or contact us at www.bergermontague.com/splunk.
A recently filed lawsuit accuses Splunk and members of its senior management of falsely portraying the Company’s financial performance, including its business, operations, and prospects. Specifically, according to the complaint, Defendants failed to disclose that Splunk was not closing deals with its largest customers in the third fiscal quarter of 2021, and that Splunk was not hitting the financial targets it had previously announced.
On December 2, 2020, Splunk announced its third quarter 2021 financial results, and in a startling reversal from the optimistic portrayal of the Company only five weeks earlier, Splunk reported that total revenue had declined by 11% year-over-year and that earnings-per-share had missed analyst estimates by a wide margin. Analysts at JPMorgan immediately wrote that they were “blindsided by the magnitude of too many large deals slipping in the final days of October.”
If you purchased Splunk securities during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is February 2, 2021. You do not need to be a lead plaintiff to share in any potential Class recovery.
Whistleblowers: Persons with non-public information regarding Splunk are encouraged to confidentially assist Berger Montague’s investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for five decades and serves as lead counsel in courts throughout the United States.
Andrew Abramowitz, Senior Counsel
Donnell Much, Associate
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SOURCE Berger Montague