The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Alteryx, Inc. (NYSE: AYX) who purchased shares between May 6, 2020 and August 7, 2020. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Alteryx lawsuit alleges that (1) the Company was unable to close large deals within the quarter, and deals were pushed out to subsequent quarters or downsized; (2) as a result, Alteryx increasingly relied on adoption licenses to attract new customers; (3) as a result and due to the nature of adoption licenses, the Company’s revenue was reasonably likely to decline; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until October 19, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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