Recent Security Class Actions

Palo Alto Networks Inc. Common Stock (NYSE: PANW)

Company Name:Palo Alto Networks Inc. Common Stock
Stock Symbol:NYSE: PANW
Class Period Start:08/18/2023
Class Period End (inclusive):02/20/2024
Filing Deadline:04/26/2024

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material facts, including that: (1) the Company’s consolidation and platformization initiatives were not driving increased market share to a significant degree; (2) the Company would need to ramp up platformization and free product offerings to entice customers to adopt more of their platforms; (3) the Company’s high growth in billings was not sustainable; (4) new AI offerings were not facilitating greater platformization and consolidation; and (5) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about customer demand, billings, and platformization, as well as related financial results, growth, and prospects.