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”) (NYSE: PLTR) in the United States District Court for the District of Colorado on behalf of investors who purchased or otherwise acquired Palantir’s common stock between November 9, 2021 and May 6, 2022, both dates inclusive (the “Class Period”).
The Complaint allege that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Palantir’s investments in marketable securities were having a significant negative impact on the Company’s earnings per share (“EPS”) results; (2) Palantir overstated the sustainability of its government segment’s growth and revenues; (3) Palantir was experiencing a significant slowdown in revenue growth, particularly among its government customers, despite ongoing global conflicts and market disruptions; (4) as a result of all the foregoing, the Company was likely to miss consensus estimates for its first quarter 2022 (“Q1”) EPS and second quarter 2022 (“Q2”) sales outlook; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Palantir’s should contact the Firm prior to the November 14, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail 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 firm.
