Glancy Prongay & Murray LLP reminds investors to loom

Glancy Prongay & Murray LLP reminds investors to loom


LOS ANGELES, Oct. 31, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come November 14, 2022 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors, Palantir Technologies Inc. (“Palantir” or the “Company”) (NYSE: PLTR) securities between February 162021 and May 6, 2022inclusive (the “Class Period”).

If you have suffered a loss on your Palantir investments or would like to inquire about potential claims to recover your loss under federal securities laws, you may submit your contact information at You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at [email protected] to learn more about your rights.

On May 9, 2022, Palantir released its financial results for the first quarter of 2022 and reported adjusted earnings per share (“EPS”) of $0.02, compared to analyst estimates of $0.04 per share, which include “[d] a negative impact of $0.02 primarily due to unrealized losses on marketable securities.” The company also announced that government revenue increased just 16% year-on-year.

On the news, Palantir’s stock fell $2.02, or 21.3%, to close at $7.46 per share on May 9, 2022, hurting investors.

The Complaint filed in this Class Action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the defendants failed to disclose to investors that: (1) Palantir’s investments in marketable securities had a material negative impact on the company’s EPS results; (2) Palantir has overstated the sustainability of its government segment’s growth and revenues; (3) Palantir experienced a significant drop in sales…

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