A securities class action has been filed in the USDC — N.D.CA. against Palo Alto Networks, Inc. (PANW) (“Palo Alto” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Palo Alto Factory common stock between August 18, 2023 and February 20, 2024, both dates inclusive (the “Class Period”).

Palo Alto Networks is a multinational cybersecurity company that offers an enterprise cybersecurity platform for network security, cloud security, and various cloud-delivered security.

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, thereby harming investors.

If you purchased Palo Alto common stock during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

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