Splunk controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Shareholders sue Splunk over alleged investor omissions
Lawsuit filed
Splunk shareholders filed a putative class action accusing the company of omitting key facts, including that it was not closing deals with its largest customers in its third fiscal quarter of 2021 and was not attaining previously projected financial targets. The complaint seeks class certification and damages; the allegations are not presented as a court determination.
Source excerpt
For the alleged wrongful acts and omissions, and resulting decline in Splunk common stock’s market value the plaintiff and others who purchased Splunk stock, from Oct. 21 until Dec. 2, are seeking class certification, compensatory and punitive damages, and an award of their attorneys’ fees and costs.
Shareholders of software company Splunk accused the company Friday of omitting key facts resulting in a 23 percent decline in stock price in a putative class action lawsuit.
Chiefly, the shareholder accused Splunk of failing to reveal that it was not closing deals with its largest customers in its third fiscal quarter of 2021, and also that it was not attaining its previously projected financial targets.