SHAREHOLDER ALERT: Splunk Inc. Investigated for Possible Securities Laws Violations by Block & Leviton LLP; Investors Should Contact the Firm
12/03/2020 | 10:22am EST
BOSTON, Dec. 03, 2020 (GLOBE NEWSWIRE) -- After the markets closed on December 2, 2020, Splunk Inc. (NASDAQ: SPLK) 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.” Shares are presently down approximately 25% from their December 2, 2020 closing price, representing billions of dollars in lost market capitalization.
Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, is investigating whether Splunk and certain of its executives may be liable for securities fraud. If you purchased or acquired shares of Splunk and have questions about your legal rights or possess information relevant to these investigations, please contact Block & Leviton attorneys at (617) 398-5600, via email at email@example.com, or at https://www.blockleviton.com/cases/splunk.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.