Lead Plaintiff Deadline: 10/23/2020
SUMMARY OF CASE:
A securities class action has been filed against Anaplan Inc. (PLAN) on behalf of purchasers of the securities of Anaplan between November 21, 2019 through February 26, 2020. This case has been filed in the USDC – N.D.CA.
The Complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose to investors that: (1) the Company was undergoing sales organization and execution challenges; (2) these organizational challenges were causing the Company to miss on closing very important large deals; and (3) as a result, Anaplan’s financial guidance for “calculated billings growth” was baseless and unattainable. Further, while in possession of this material non-public information, Anaplan insiders dumped approximately $30 million worth of Anaplan stock at artificially inflated prices.