The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Palantir Technologies Inc. (NYSE: PLTR) who purchased shares between November 9, 2021 and May 6, 2022. The action, which was filed in the United States District Court for the District of Colorado, alleges that the Company violated federal securities laws.
In particular, the Palantir lawsuit alleges that (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.
Shareholders have until November 14, 2022 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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