NEW YORK, Sept. 01, 2020 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Anaplan Inc. (“Anaplan” or the “Company”) (NYSE: PLAN) on behalf of those who purchased or acquired the securities of Anaplan between November 21, 2019 and February 26, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Anaplan investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose 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, the Complaint also alleges that while in possession of this material non-public information, Anaplan insiders sold approximately $30 million worth of Anaplan stock at artificially inflated prices.
Investors who purchased or otherwise acquired shares of Anaplan during the Class Period should contact the Firm prior to the October 23, 2020 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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