WHY: A class action complaint has been filed on behalf of buyers of Palo Alto Networks, Inc. (NASDAQ: PANW) common stock between August 18, 2023 and February 20, 2024, inclusive (the “Class Period”) by Rosen Law company, a global investor rights law company. A lawsuit has already been filed as a class action. You have until April 26, 2024, to move the Court if you would like to be the lead plaintiff.
Leading national firm Rosen advises Palo Alto Networks, Inc. investors who have lost more than $100,000
SO WHAT: If you bought Palo Alto securities during the Class Period, you might be eligible for reimbursement through a contingency fee arrangement, which would spare you from having to pay any out-of-pocket expenses.
WHAT TO DO NEXT: For information on the Palo Alto class action, email pkim@rosenlegal.com or cases@rosenlegal.com. You can also join the class action by visiting https://rosenlegal.com/submit-form/?case_id=22789. You can also contact Phillip Kim, Esq. at 866-767-3653 toll-free. There is already a filed class action lawsuit. The Court must receive your move by April 26, 2024, if you would like to be the main plaintiff.
In steering the legal action on behalf of other class members, a lead plaintiff is a representative party.
WHY ROSEN LAW: We advise investors to choose knowledgeable legal counsel who has demonstrated success in raising money. The majority of the time, companies who send out notices lack relevant peer recognition, resources, and experience. When choosing a counsel, use caution.
I.e. Securities class actions and shareholder derivative lawsuits are the main areas of business for The Rosen Law Firm, which represents investors globally. In a securities class action lawsuit against a Chinese company, Rosen Law Firm has reached the largest settlement ever. When it comes to the amount of securities class action settlements that Rosen Law Firm received in 2017, ISS Securities Class Action Services ranked them first.
With hundreds of millions of dollars recovered for investors, the firm has been in the top 4 every year since 2013. For investors, the company raised approximately $438 million just in 2019. As a Titan of the Plaintiffs’ Bar in 2020, law360 recognised founding partner Laurence Rosen. Super Lawyers and Lawdragon have named numerous of the firm’s solicitors as elite.
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DETAILS OF THE CASE: The lawsuit claims that the defendants made false and/or misleading statements and/or neglected to disclose that:
(1) Palo Alto’s efforts to consolidate and expand its platform were not significantly increasing its market share;
(2) Palo Alto would need to increase platformization and offer free products to encourage customers to adopt more of their platforms;
(3) Palo Alto’s rapid growth in billings was unsustainable;
(4) Palo Alto’s new Artificial Intelligence (“AI”) offerings were not facilitating greater platformization and consolidation; and
(5) in light of the aforementioned, the defendants lacked a reasonable basis for their affirmative statements regarding customer demand, billings, and as well as platformization, growth, and opportunities associated with these financial outcomes. The complaint alleges that investors suffered losses when the real details were made public.
