Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Palo Alto Networks, Inc. ("Palo Alto") (NASDAQ: (PANW) common stock between November 16, 2023 and February 20, 2024, inclusive (the “Class Period”).
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) Palo Alto’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) Palo Alto’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.
Current Status of Case:
On August 19, 2025, the Court granted Defendants’ Motion to Dismiss the Second Amended Complaint with prejudice. On September 17, 2025, Lead Plaintiffs filed a Notice of Appeal with the Ninth Circuit Court of Appeals. The appeal is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; 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.