Palantir Technologies Class Action Lawsuit (PLTR Lawsuit)
What Is The Palantir Technologies Class Action Lawsuit About?
The Palantir Technologies Class Action Lawsuit (NYSE:PLTR) (Palantir Technologies Class Action Lawsuit) was filed when after the market closed. On May 9, 2022, Palantir issued a press release announcing its Q1 financial results and guidance for Q2.
Is There A Palantir Technologies Class Action Lawsuit?
On May 9, 2022, Palantir issued a press release announcing its Q1 financial results and guidance for Q2. For Q1, Palantir announced adjusted EPS of $0.02, compared to analyst estimates of $0.04 per share, noting on a conference call that the “[f]irst quarter adjusted [EPS of] $0.02 . . . includes a negative $0.02 impact driven primarily by unrealized losses on marketable securities.” The Company also disclosed that government revenue grew by only 16% year-overyear for Q1, representing a significant slowdown in revenue growth compared to prior quarters, and that, for Q2, the Company expected $470 million in sales, compared to estimates of $483.76 million.
On this news, Palantir’s stock price fell $2.02 per share, or 21.31%, to close at $7.46 per share on May 9, 2022.
Is There A Deadline For The Palantir Technologies Lawsuit?
How Much Did Shareholders Lose In Palantir Technologies
Shareholders who held Palantir Technologies securities saw stock price fell $2.02 per share, or 21.31%, to close at $7.46 per share on May 9, 2022.
What Is The Palantir Technologies Lawsuit Complaint?
Levi & Korsinsky, LLP announces that a PLTR class action lawsuit (Palantir Technologies Class Action Lawsuit) has been filed on behalf of investors who purchased Palantir Technologies Class Action Lawsuit (PLTR) securities between February 16, 2021 – May 06, 2022, inclusive. For more on the PLTR Lawsuit please contact us today.
According to the Palantir Technologies lawsuit, throughout the Class Period defendants made 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.
If you suffered a loss in PLTR, you have until November 14, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Why Levi & Korsinsky, LLP Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
What Is The Lead Plaintiff Process?
THE LEAD PLAINTIFF PROCESS: According to the Private Securities Reform Act of 1995, any investor who bought or acquired PLTR securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The PLTR class-action lawsuit is directed by the lead plaintiff. To litigate the Palantir Technologies Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the PLTR Class Action Lawsuit.
What Does PLTR Do?
Palantir Technologies Inc. builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations.
The company provides palantir gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.
It also offers palantir foundry, a platform that transforms the ways organizations operate by creating a central operating system for their data; and allows individual users to integrate and analyze the data they need in one place.
In addition, it provides apollo, a software that enables customers to deploy their own software virtually in any environment. Palantir Technologies Inc. was incorporated in 2003 and is based in Denver, Colorado.
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