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New Orleans, Louisiana--(Newsfile Corp. - January 31, 2021) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until February 2, 2021 to file lead plaintiff applications in a securities class action lawsuit against Splunk Inc. (NasdaqGS: SPLK), if they purchased the Company's shares between October 21, 2020 and December 2, 2020, inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of New York.
What You May Do
If you purchased shares of Splunk and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-splk/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by February 2, 2021.
About the Lawsuit
Splunk and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 2, 2020, post-market, the Company disclosed disappointing financial results for 3Q2021 ended October 31, 2020 including total revenues of $559 million, down 11% year-over-year and which missed estimates by nearly $60 million, a loss of 7 cents per share versus an expected gain of 8 cents per share, and a lower than expected forecast for 4Q2021, leading numerous analysts to downgrade the stock and cut their price targets.
On this news, the price of Splunk's shares plummeted over 23% in one trading day from their December 2, 2020 closing price, representing billions of dollars in lost market capitalization.
The case is Pavlova-Coleman v. Splunk Inc., et al., No. 3:20-cv-8600.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73279