In re Splunk Inc. Securities Litigation
|Court:||United States District Court for the Northern District of California|
|Judge:||Jon S. Tigar|
|Case Contacts:||John Rizio-Hamilton, Jonathan D. Uslaner, Lauren M. Cruz, Matthew Traylor, Rebecca N. Kim|
This is a securities fraud class action on behalf of persons and entities who purchased common stock of Splunk Inc. (“Splunk” or the “Company), a software company that provides specialized software that ingests, analyzes, and repackages large quantities of machine generated data for its customers.
As a result of Splunk and its executives material misrepresentations and omissions, Splunk stock traded at artificially inflated prices that was removed from the stock on December 2, 2020. Shares of Splunk common stock plummeted, closing at just $158.03 per share on December 3, 2020, down over 23% from the December 2, 2020 closing price of $205.91 per share. As a result of Defendants’ wrongful actions and omissions, which caused the precipitous decline in the market value of Splunk’s stock, plaintiffs suffered significant losses and damages.
On December 4, 2020, a Class Action Complaint was filed against Splunk and its top executives. That Complaint may be found in the “Case Documents” link immediately to the left of this description. On March 16, 2021 the Honorable Jon S. Tigar appointed Louisiana Sheriffs’ Pension & Relief Fund as Lead Plaintiff and BLB&G as Lead Counsel for the potential Class. Lead Plaintiff will be filing the operative complaint.
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