LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Splunk Inc. (“Splunk” or “the Company”) (NASDAQ: SPLK) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Splunk announced its financial results for the third quarter of 2021 on December 2, 2020, stunning the market with results that fell well short of expectations. The Company reported a loss of $0.07 per share as opposed to an expected gain of $0.08 per share. The Company also came out with a lower forecast for the fourth quarter. Amongst numerous analyst downgrades, JPMorgan notes it was “blindsided by the magnitude of too many large deals slipping in the final days of October.” Based on this news, shares of Splunk are down more than 20% in intraday trading on December 3, 2020.
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