The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the District of Colorado on behalf of shareholders of Palantir Technologies Inc. who purchased Class A common stock during the period September 30, 2020 to August 5, 2022, including purchases pursuant and/or traceable to documents used in connection with the offer, sale, and direct listing of Palantir Class A common stock on the New York Stock Exchange beginning on or about September 30, 2020.
(i) Palantir’s investments in marketable securities were having a significant negative impact on the Company’s earnings per share (“EPS”) results; (ii) Palantir overstated the sustainability of its government segment’s growth and revenues; (iii) Palantir was experiencing a significant slowdown in revenue growth, particularly among its government customers, despite ongoing global conflicts and market disruptions; (iv) as a result of all the foregoing, the Company was likely to miss consensus estimates for its first quarter 2022 EPS and second quarter 2022 sales outlook; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until November 14, 2022 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
