Press release
Lawsuit filed for Investors who lost money with shares of Palo Alto Networks, Inc. (NASDAQ: PANW)
A lawsuit was filed on behalf of investors in Palo Alto Networks, Inc. (NASDAQ: PANW) shares.
Investors who purchased shares of Palo Alto Networks, Inc. (NASDAQ: PANW) have certain options and for certain investors are short and strict deadlines running. Deadline: April 26, 2024. NASDAQ: PANW investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On February 20, 2024, Palo Alto released its second quarter fiscal 2024 financial results and lowered its full year revenue and billing guidance. The Company attributed the revision to its "platformization," in which it will be offering more "freemium" services to on-ramp customers into the full paid services platform, as well as a deal with the federal government that didn't close as expected.
On February 20, 2024, Palo Alto Networks, Inc released its second quarter fiscal 2024 financial results and lowered its full year revenue and billing guidance. The Company attributed the revision to its "platformization," in which it will be offering more "freemium" services to on-ramp customers into the full paid services platform, as well as a deal with the federal government that didn't close as expected.
Shares of Palo Alto Networks, Inc. (NASDAQ: PANW) declined from $380.84 per share on February 09, 2024, to $260.09 per share on February 21, 2024.
The plaintiff claims that between August 18, 2023 through February 20, 2024, the Defendants failed to disclose to investors that the Company's consolidation and platformization initiatives were not driving increased market share to a significant degree, that the Company would need to ramp up platformization and free product offerings to entice customers to adopt more of their platforms, that the Company's high growth in billings was not sustainable, that new AI offerings were not facilitating greater platformization and consolidation, and that as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of Palo Alto Networks, Inc. (NASDAQ: PANW) have certain options and should contact the Shareholders Foundation.
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 lawsuits, 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.
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