Lawsuit filed for Investors in shares of Splunk Inc. (NASDAQ: SPLK)

An investor, who purchased shares of Splunk Inc. (NASDAQ: SPLK), filed a lawsuit over alleged violations of Federal Securities Laws by Splunk Inc.

Investors who purchased shares of Splunk Inc. (NASDAQ: SPLK) have certain options and for certain investors are short and strict deadlines running. Deadline: February 2, 2021. NASDAQ: SPLK investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

After the markets closed on December 2, 2020, Splunk Inc. stunned the market when it announced its financial results for the third quarter of 2021. These results fell short of annual recurring and total revenue estimates, and Splunk reported a loss of 7 cents per share versus an expected gain of 8 cents per share. Splunk’s forecast for the fourth quarter of 2020 was also lower than expected. Numerous analysts have already downgraded the stock and cut their price targets. This includes JPMorgan, who was “blindsided by the magnitude of too many large deals slipping in the final days of October on the heels of an upbeat analyst day 10 days prior to the quarter close,” on October 21, 2020, “at which the company reaffirmed guidance and stated that it was excited about near-term and long-term growth prospects.” Shares of Splunk Inc. (NASDAQ: SPLK) declined from $207.41 per share on December 1, 2020 to as low as $153.30 per share on December 7, 2020.

The plaintiff claims that between October 21, 2020 and December 2, 2020, the Splunk Inc. made materially false and/or misleading statements and/or failed to disclose that Splunk Inc. was not closing deals with its largest customers in the third fiscal quarter of 2021, and that Splunk Inc. was not hitting the financial targets it had previously announced.

Those who purchased shares of Splunk Inc. (NASDAQ: SPLK) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.