LOS ANGELES, Oct. 17, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come November 14, 2022 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors who have purchased or otherwise acquired Palantir Technologies Inc. (“Palantir” or the “Company”) PLTR securities between November 9, 2021 and May 6, 2022inclusive (the “Class Period”).

If you have suffered a loss on your Palantir investments or would like to inquire about potential claims to recover your loss under federal securities laws, you may submit your contact information at www.glancylaw.com/cases/palantir-technologies-inc/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at [email protected] to learn more about your rights.

On May 9, 2022, Palantir released its financial results for the first quarter of 2022 and reported adjusted earnings per share (“EPS”) of $0.02, compared to analyst estimates of $0.04 per share, which include “[d] a negative impact of $0.02, primarily due to unrealized losses on marketable securities.” The company also announced that government revenues were up just 16% year-on-year.

On the news, Palantir stock fell $2.02, or 21.3%, to close at $7.46 per share on May 9, 2022, hurting investors.

The Complaint filed in this Class Action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the defendants failed to disclose to investors that: (1) Palantir’s investments in marketable securities had a material negative impact on the company’s EPS results; (2) Palantir has overstated the sustainability of its government segment’s growth and revenues; (3) Palantir saw a significant slowdown in revenue growth, particularly from its government customers,…