| COMPANY |
Anaplan, Inc |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
20-cv-05959 |
| JUDGE |
The Honorable Richard Seeborg |
| CLASS PERIOD |
November 21, 2019 - February 26, 2020 |
| SECURITY TYPE |
All Securities |
Case Background:
On August 24, 2021, the initial complaint in this securities class action was filed against Anaplan, Inc. (“Anaplan” or the “Company”) and certain of Anaplan’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action on behalf of all persons who purchased or otherwise acquired Anaplan securities between November 21, 2019 through February 26, 2020, (“Class Period”) both dates inclusive.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and. prospects. Specifically, the complaint alleges that Defendants failed to disclose to investors 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.
Current Status of Case:
On August 31, 2021, the Court issued and Order granting Defendants’ Motion to Dismiss. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.