NEW YORK, Sept. 16, 2022 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Palantir Technologies Inc. (“Palantir” or the “Company”). PLTR in the United States District Court for the District of Colorado on behalf of investors who purchased or otherwise acquired the common stock of Palantir between 9 November 2021 and 6 May 2022, both inclusive dates (the “Collection Period”).
The lawsuit alleges that the defendants made false and/or misleading statements and/or failed to disclose the following: (1) Palantir’s investments in marketable securities had a material adverse impact on the company’s earnings per share (“EPS”); (2) Palantir has overstated the sustainability of its government segment’s growth and revenues; (3) Palantir experienced a significant slowdown in revenue growth, particularly from its government customers, despite ongoing global conflicts and market disruptions; (4) As a result of the foregoing, the Company is expected to miss consensus estimates for its revenue guidance for the first quarter of 2022 (“Q1”) and the second quarter of 2022 (“Q2”); and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times. As the true details emerged, the lawsuit alleges that investors suffered damage.
Investors who have purchased or otherwise acquired Palantir stock should contact the company before November 14, 2022 Lead Plaintiff’s Application Deadline. A lead plaintiff is a representative party acting on behalf of other group members in conducting the litigation. If you would like to discuss your rights or interests related to this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. by Gainey McKenna & Egleston at (212) 983-1300 or by email at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the company.
