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, Palantir Technologies Inc. (“Palantir” or the “Company”) (NYSE: 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 revenue increased 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 experienced a significant drop in sales…