Bragar Eagel & Squire, PC is investigating Palo Alto Networks, Inc. on behalf of long-term shareholders and encourages investors to contact the company at Investing.com


NEW YORK, April 30, 2024 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating claims against Palo Alto Networks, Inc. (NASDAQ: ) on behalf of long-term shareholders. potential claims. Fiduciary Duties.

After the close on February 20, 2024, Palo Alto Networks reported second-quarter 2024 financial results and lowered its billing and revenue guidance for the third quarter and full year. In an earnings call the same day, Defendants explained that our guidance is the result of a shift in strategy as we drive forward in hopes of accelerating our platform and integrations and activating our artificial intelligence leadership position. The defendants also disclosed that several large U.S. federal government project transactions failed to close, resulting in a severe shortage of our U.S. federal government business, which is expected to continue into the third and fourth quarters of 2024.

Affected by this news, the price of Palo Alto Networks, Inc. common stock fell by $104.12 per share, or approximately 28%, on February 21, 2024.

The lawsuit alleges that throughout the Class Period, Defendants made false and/or misleading statements and failed to disclose material facts, including that: (1) the Company’s integration and platformization initiatives did not materially drive market share increase; (2) The company needs to strengthen platformization and free product offerings to attract more customers to adopt its platform; (3) The high growth of the company’s turnover is unsustainable; (4) New artificial intelligence products have not promoted greater platformization and integration; (5) Based on the above, Defendants’ positive statements about customer needs, billing and platformization, and related financial performance, growth and prospects lack a reasonable basis.

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If you are a long-term Palo Alto Networks stockholder, have information, would like more information regarding these claims, or have any questions about this announcement or your rights or interests related to these matters, please contact Brandon Walker or Marion Passmore via electronic Mail to surveys@bespc.comcall (212) 355-4648, or Fill out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, PC:

Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country.For more information about the company, please visit www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.

Contact information:

Bragar Eagel & Squire, PC
Mr. Brandon Walker
Mr Marion Passmore
(212)355-4648
surveys@bespc.com
www.bespc.com





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