Trending...
- AI Visibility: The Key to Beating Google's AI Overviews and Regaining Traffic
- New Mobile Car Detailing Platform Connects Drivers with On-Demand Local Pros
- Cal State LA secures funding for two artificial intelligence projects from CSU
SAN DIEGO--(BUSINESS WIRE)--The law firm of Robbins Geller Rudman & Dowd LLP announces that the Palantir class action lawsuit – captioned Cupat v. Palantir Technologies Inc., No. 22-cv-02384 (D. Colo.) – charges Palantir Technologies Inc. (NYSE: PLTR) as well as certain of its top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Palantir class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-palantir-technologies-inc-class-action-lawsuit-pltr.html
You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the Palantir class action lawsuit must be filed with the court no later than November 14, 2022.
More on The Californer
CASE ALLEGATIONS: Palantir builds and deploys software platforms to assist the U.S. intelligence community in counterterrorism investigations and operations. Palantir has consistently described sources of geopolitical instability and other disruptions – e.g., armed conflicts, economic crises, and the COVID-19 pandemic – as tailwinds for its business. Palantir also invests in so-called "marketable securities" consisting of equity securities in publicly traded companies.
The Palantir class action lawsuit alleges that defendants failed to disclose that: (i) Palantir's investments in marketable securities were having a significant negative impact on Palantir'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; and (iv) as a result, Palantir was likely to miss consensus estimates for its first quarter 2022 ("Q1") EPS and second quarter 2022 ("Q2") sales outlook.
On May 9, 2022, Palantir issued a press release announcing its Q1 financial results and guidance for Q2. For Q1, Palantir announced adjusted EPS of $0.02, compared to analyst estimates of $0.04 per share, noting on a conference call that the "[f]irst quarter adjusted [EPS of] $0.02 . . . includes a negative $0.02 impact driven primarily by unrealized losses on marketable securities." Palantir also disclosed that government revenue grew by only 16% year-over-year for Q1, representing a significant slowdown in revenue growth compared to prior quarters, and that, for Q2, Palantir expected $470 million in sales, compared to estimates of $483.76 million. Palantir's significant decline in revenue growth, particularly from its government customers, surprised investors, especially given the ongoing geopolitical instability and other disruptions caused by, among other things, the ongoing COVID-19 pandemic and Russo-Ukrainian War – that is, precisely the type of destabilizing conditions that Palantir had previously touted as tailwinds for its business. On this news, Palantir's stock price fell by more than 21%, damaging investors.
More on The Californer
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Palantir securities during the class period to seek appointment as lead plaintiff. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Palantir class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Palantir class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Palantir class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world's leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs' firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
Attorney advertising.
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.
Contacts
Robbins Geller Rudman & Dowd LLP
655 W. Broadway, Suite 1900, San Diego, CA 92101
J.C. Sanchez, 800-449-4900
jsanchez@rgrdlaw.com
If you suffered substantial losses and wish to serve as lead plaintiff of the Palantir class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-palantir-technologies-inc-class-action-lawsuit-pltr.html
You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the Palantir class action lawsuit must be filed with the court no later than November 14, 2022.
More on The Californer
- The Citizens Commission on Human Rights Annual Purple Heart Day Event will be Hosted at the Historic Fort Harrison
- Blake Harris the Leading Authority in International Asset Protection Joins Tom Hegna on "Financial Freedom with Tom Hegna"
- Wise Business Plans Emerges as a Go-To Partner for Angel Investors, VCs, Family Offices and Private
- Psychedelics for Vets? CCHR Cites History of Exploitation and Failed Science
- Neurocrine Biosciences Presents One-Year Data Showing Sustained Efficacy of CRENESSITY® (crinecerfont) in Adult Patients, at ENDO 2025
CASE ALLEGATIONS: Palantir builds and deploys software platforms to assist the U.S. intelligence community in counterterrorism investigations and operations. Palantir has consistently described sources of geopolitical instability and other disruptions – e.g., armed conflicts, economic crises, and the COVID-19 pandemic – as tailwinds for its business. Palantir also invests in so-called "marketable securities" consisting of equity securities in publicly traded companies.
The Palantir class action lawsuit alleges that defendants failed to disclose that: (i) Palantir's investments in marketable securities were having a significant negative impact on Palantir'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; and (iv) as a result, Palantir was likely to miss consensus estimates for its first quarter 2022 ("Q1") EPS and second quarter 2022 ("Q2") sales outlook.
On May 9, 2022, Palantir issued a press release announcing its Q1 financial results and guidance for Q2. For Q1, Palantir announced adjusted EPS of $0.02, compared to analyst estimates of $0.04 per share, noting on a conference call that the "[f]irst quarter adjusted [EPS of] $0.02 . . . includes a negative $0.02 impact driven primarily by unrealized losses on marketable securities." Palantir also disclosed that government revenue grew by only 16% year-over-year for Q1, representing a significant slowdown in revenue growth compared to prior quarters, and that, for Q2, Palantir expected $470 million in sales, compared to estimates of $483.76 million. Palantir's significant decline in revenue growth, particularly from its government customers, surprised investors, especially given the ongoing geopolitical instability and other disruptions caused by, among other things, the ongoing COVID-19 pandemic and Russo-Ukrainian War – that is, precisely the type of destabilizing conditions that Palantir had previously touted as tailwinds for its business. On this news, Palantir's stock price fell by more than 21%, damaging investors.
More on The Californer
- Mike Diamond Offers $775 Off Full Heating & A/C Installation for a Limited Time
- Mike Diamond Offers $99 Drain Cleaning to Help Los Angeles Homeowners Save
- GreenPal Empowers Lawn Care Pros Leveraging AI, Surpasses 5 Million Transactions
- Bilingual Children's Book Where Nopalitos Grow Added to Los Angeles Public Library Collection
- Bennett Awards Crafts Prestigious Custom Gold Trophies for VidCon's Inaugural Hall of Fame
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Palantir securities during the class period to seek appointment as lead plaintiff. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Palantir class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Palantir class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Palantir class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world's leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs' firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
Attorney advertising.
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.
Contacts
Robbins Geller Rudman & Dowd LLP
655 W. Broadway, Suite 1900, San Diego, CA 92101
J.C. Sanchez, 800-449-4900
jsanchez@rgrdlaw.com
Filed Under: Business
0 Comments
Latest on The Californer
- CarSeek Re-Launch: A New Look, A Better Experience for Car Buyers
- California: Governor Newsom provides $11 million to organizations helping underserved job seekers find training and employment
- For Artificial Intelligence Appreciation Day: Celebrate it with a poem about AI called "Robot Love"
- City of Long Beach Shares Federal Funding Updates and Local Impacts
- The Sessions Studios Secures $300 Million Commitment to Launch World-Class Studio and 15-Film Global Slate
- Fortrea Holdings Inc. (FTRE) Investors Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
- Two themes emerge in Marketing AI
- California: Governor Newsom restructures state government to combat homelessness, boost housing and affordability
- Smart Resnse Unveils Smart Resnse(SRMS) Token-Powered AI Orchestration Platform to Revolutionize Multi-Billion Dollar Market
- Josh and Heidi Follow Up the Much Anticipated and Successful Launch of the "Spreading the Good BUZZ" Podcast with a Personal Request
- Revolutionary Blockchain Platform Okh Finance Announces Okh Finance(OKKH) Token Launch to Transform Global Asset Leasing Market
- Cover Girl Finalist Teisha Mechetti Questions Legitimacy of Inked Originals Competition, Demands Transparency
- City of Long Beach Opens Applications for Cannabis Equity Program
- Ridgeback Lighting Launches Battery-Free EBL LED Emergency and Egress Light
- Long Beach: Health Department Announces Certification of 32 Community Violence Intervention Workers
- Easton & Easton, LLP Files Suit Against The Dwelling Place Anaheim & Vineyard USA Over Abuse Allegations
- AI Visibility: The Key to Beating Google's AI Overviews and Regaining Traffic
- First Partner highlights apprenticeship program helping underrepresented youth break into careers in California's iconic entertainment industry
- Stuck Doing Math or Figuring Out Life's Numbers? Calculator.now Makes It Stupidly Simple
- Cal State LA secures funding for two artificial intelligence projects from CSU