{"id":400468,"date":"2020-12-15T16:59:14","date_gmt":"2020-12-15T21:59:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=400468"},"modified":"2020-12-15T16:59:14","modified_gmt":"2020-12-15T21:59:14","slug":"kessler-topaz-meltzer-check-llp-announces-a-securities-fraud-class-action-filed-against-splunk-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kessler-topaz-meltzer-check-llp-announces-a-securities-fraud-class-action-filed-against-splunk-inc\/","title":{"rendered":"Kessler Topaz Meltzer &amp; Check, LLP Announces A Securities Fraud Class Action Filed Against Splunk Inc."},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">RADNOR, Pa<\/span>,, <span class=\"xn-chron\">Dec. 15, 2020<\/span> \/PRNewswire\/ &#8212; The law firm of Kessler Topaz Meltzer &amp; Check, LLP alerts investors that a securities fraud class action lawsuit has been filed against Splunk Inc. (NASDAQ: \u00a0SPLK) (&#8220;Splunk&#8221;) on behalf of those who purchased or otherwise acquired Splunk common stock <b><i>between <span class=\"xn-chron\">October 21, 2020<\/span> and <span class=\"xn-chron\">December 2, 2020<\/span><\/i><\/b>, inclusive (the &#8220;Class Period&#8221;).<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/277422\/ktmc_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/277422\/ktmc_Logo.jpg\" title=\"KTMC (PRNewsFoto\/Kessler Topaz Meltzer &amp; Check)\" alt=\"KTMC (PRNewsFoto\/Kessler Topaz Meltzer &amp; Check)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b><br \/>\n          <i>Investors who purchased or otherwise acquired Splunk common stock<\/i><br \/>\n        <\/b><br \/>\n        <b><br \/>\n          <i>during the Class Period may, <u>no later than <span class=\"xn-chron\">February 2, 2021<\/span><\/u>, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please click <\/i><br \/>\n        <\/b><br \/>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3014097-1&amp;h=687369514&amp;u=https%3A%2F%2Fprotect-us.mimecast.com%2Fs%2FocAgCv2mZ7CWOWGVhQtvvi%3Fdomain%3Dktmc.com&amp;a=https%3A%2F%2Fwww.ktmc.com%2Fsplunk-inc-securities-class-action%3Futm_source%3DPR%26utm_medium%3Dlink%26utm_campaign%3Dsplunk\" rel=\"nofollow noopener noreferrer\">https:\/\/www.ktmc.com\/splunk-inc-securities-class-action?utm_source=PR&amp;utm_medium=link&amp;utm_campaign=splunk<\/a><br \/>\n        <b><br \/>\n          <i>.<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>According to its filings with the SEC, Splunk &#8220;provides innovative software solutions that ingest data from different sources including systems, devices and interactions, and turn[s] that data into meaningful business insights across the organization.&#8221; Splunk states that its &#8220;Data-to-Everything platform enables users to investigate, monitor, analyze and act on data regardless of format or source.&#8221; <\/p>\n<p>The Class Period commences on <span class=\"xn-chron\">October 21, 2020<\/span>, when Splunk held a call with several analysts at the Virtual Analyst &amp; Investor Session at .conf.20. On this call, Splunk assured investors that everything was on track for the close of the third quarter, which was just ten days after the call. <\/p>\n<p>However, the truth regarding its third quarter was revealed after the market closed on <span class=\"xn-chron\">December 2, 2020<\/span>, when Splunk announced its financial results for its third fiscal quarter for 2021.\u00a0 In its announcement, Splunk reported total revenues of <span class=\"xn-money\">$559 million<\/span>, down 11% year-over-year and which missed estimates by nearly <span class=\"xn-money\">$60 million<\/span>. Furthermore, Splunk announced quarterly non-GAAP earnings per share of &#8211;<span class=\"xn-money\">$0.07<\/span>, missing estimates by <span class=\"xn-money\">$0.15<\/span>, as well as GAAP earnings per share of &#8211;<span class=\"xn-money\">$1.26<\/span>, missing by <span class=\"xn-money\">$0.24<\/span> per share. <\/p>\n<p>Following this news, shares of Splunk common stock fell, closing at <span class=\"xn-money\">$158.03<\/span> per share on <span class=\"xn-chron\">December 3, 2020<\/span>, down over 23% from the <span class=\"xn-chron\">December 2, 2020<\/span> closing price of <span class=\"xn-money\">$205.91<\/span> per share. <\/p>\n<p>The complaint alleges that, throughout the Class Period, the defendants misrepresented and\/or failed to disclose to investors that: (1) Splunk was not closing deals with its largest customers in the third fiscal quarter of 2021; (2) Splunk was not hitting the financial targets it had previously announced; and (3) as a result of the foregoing, the defendants&#8217; public statements were materially false and misleading at all relevant times.<\/p>\n<p>Splunk investors who wish to discuss this securities fraud class action lawsuit and their legal options are encouraged to contact Kessler Topaz Meltzer &amp; Check, LLP (<span class=\"xn-person\">James Maro, Jr., Esq.<\/span> or <span class=\"xn-person\">Adrienne Bell, Esq.<\/span>) at (844) 877-9500 (toll free) or at <a target=\"_blank\" href=\"mailto:info@ktmc.com\" rel=\"nofollow noopener noreferrer\">info@ktmc.com<\/a>.<\/p>\n<p>Splunk<b>\u00a0<\/b>investors may, <b><i><u>no later than <span class=\"xn-chron\">February 2, 2021<\/span><\/u><\/i><\/b>, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer &amp; Check, or other counsel, or may choose to do nothing and remain an absent class member.\u00a0 A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.\u00a0 In order to be appointed as a lead plaintiff, the Court must determine that the class member&#8217;s claim is typical of the claims of other class members, and that the class member will adequately represent the class.\u00a0 Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.<\/p>\n<p>Kessler Topaz Meltzer &amp; Check prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer &amp; Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from <span class=\"xn-location\">the United States<\/span> and around the world. \u00a0The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).\u00a0 The complaint in this action was not filed by Kessler Topaz Meltzer &amp; Check. For more information about Kessler Topaz Meltzer &amp; Check, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3014097-1&amp;h=1569017795&amp;u=http%3A%2F%2Fwww.ktmc.com%2F&amp;a=www.ktmc.com\" rel=\"nofollow noopener noreferrer\">www.ktmc.com<\/a>.<\/p>\n<p>CONTACT:<\/p>\n<p>Kessler Topaz Meltzer &amp; Check, LLP<br \/><span class=\"xn-person\">James Maro, Jr., Esq.<\/span><br \/><span class=\"xn-person\">Adrienne Bell, Esq.<\/span><br \/>280 King of Prussia Road<br \/><span class=\"xn-location\">Radnor, PA<\/span> 19087<br \/>(844) 877-9500 (toll free)<br \/>(610) 667-7706<br \/><a target=\"_blank\" href=\"mailto:info@ktmc.com\" rel=\"nofollow noopener noreferrer\">info@ktmc.com<\/a><\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DC25125&amp;sd=2020-12-15\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/kessler-topaz-meltzer--check-llp-announces-a-securities-fraud-class-action-filed-against-splunk-inc-301193498.html\">http:\/\/www.prnewswire.com\/news-releases\/kessler-topaz-meltzer&#8211;check-llp-announces-a-securities-fraud-class-action-filed-against-splunk-inc-301193498.html<\/a><\/p>\n<p>SOURCE  Kessler Topaz Meltzer &amp; Check, LLP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DC25125&amp;Transmission_Id=202012151656PR_NEWS_USPR_____DC25125&amp;DateId=20201215\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire RADNOR, Pa,, Dec. 15, 2020 \/PRNewswire\/ &#8212; The law firm of Kessler Topaz Meltzer &amp; Check, LLP alerts investors that a securities fraud class action lawsuit has been filed against Splunk Inc. (NASDAQ: \u00a0SPLK) (&#8220;Splunk&#8221;) on behalf of those who purchased or otherwise acquired Splunk common stock between October 21, 2020 and December 2, 2020, inclusive (the &#8220;Class Period&#8221;). Investors who purchased or otherwise acquired Splunk common stock during the Class Period may, no later than February 2, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please click https:\/\/www.ktmc.com\/splunk-inc-securities-class-action?utm_source=PR&amp;utm_medium=link&amp;utm_campaign=splunk . According to its filings with the SEC, Splunk &#8220;provides innovative software &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kessler-topaz-meltzer-check-llp-announces-a-securities-fraud-class-action-filed-against-splunk-inc\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Kessler Topaz Meltzer &amp; Check, LLP Announces A Securities Fraud Class Action Filed Against Splunk Inc.&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-400468","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kessler Topaz Meltzer &amp; Check, LLP Announces A Securities Fraud Class Action Filed Against Splunk Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/kessler-topaz-meltzer-check-llp-announces-a-securities-fraud-class-action-filed-against-splunk-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kessler Topaz Meltzer &amp; Check, LLP Announces A Securities Fraud Class Action Filed Against Splunk Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire RADNOR, Pa,, Dec. 15, 2020 \/PRNewswire\/ &#8212; The law firm of Kessler Topaz Meltzer &amp; Check, LLP alerts investors that a securities fraud class action lawsuit has been filed against Splunk Inc. (NASDAQ: \u00a0SPLK) (&#8220;Splunk&#8221;) on behalf of those who purchased or otherwise acquired Splunk common stock between October 21, 2020 and December 2, 2020, inclusive (the &#8220;Class Period&#8221;). Investors who purchased or otherwise acquired Splunk common stock during the Class Period may, no later than February 2, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please click https:\/\/www.ktmc.com\/splunk-inc-securities-class-action?utm_source=PR&amp;utm_medium=link&amp;utm_campaign=splunk . 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Check, LLP Announces A Securities Fraud Class Action Filed Against Splunk Inc. - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/kessler-topaz-meltzer-check-llp-announces-a-securities-fraud-class-action-filed-against-splunk-inc\/","og_locale":"en_US","og_type":"article","og_title":"Kessler Topaz Meltzer &amp; Check, LLP Announces A Securities Fraud Class Action Filed Against Splunk Inc. - Market Newsdesk","og_description":"PR Newswire RADNOR, Pa,, Dec. 15, 2020 \/PRNewswire\/ &#8212; The law firm of Kessler Topaz Meltzer &amp; Check, LLP alerts investors that a securities fraud class action lawsuit has been filed against Splunk Inc. (NASDAQ: \u00a0SPLK) (&#8220;Splunk&#8221;) on behalf of those who purchased or otherwise acquired Splunk common stock between October 21, 2020 and December 2, 2020, inclusive (the &#8220;Class Period&#8221;). Investors who purchased or otherwise acquired Splunk common stock during the Class Period may, no later than February 2, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please click https:\/\/www.ktmc.com\/splunk-inc-securities-class-action?utm_source=PR&amp;utm_medium=link&amp;utm_campaign=splunk . According to its filings with the SEC, Splunk &#8220;provides innovative software &hellip; Continue reading \"Kessler Topaz Meltzer &amp; Check, LLP Announces A Securities Fraud Class Action Filed Against Splunk Inc.\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/kessler-topaz-meltzer-check-llp-announces-a-securities-fraud-class-action-filed-against-splunk-inc\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-15T21:59:14+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/277422\/ktmc_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kessler-topaz-meltzer-check-llp-announces-a-securities-fraud-class-action-filed-against-splunk-inc\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/kessler-topaz-meltzer-check-llp-announces-a-securities-fraud-class-action-filed-against-splunk-inc\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Kessler Topaz Meltzer &amp; 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