In re Splunk Inc. Shareholder Derivative Litigation, Master File No.: CGC-21-589794 (Cal. Super. Ct. Mar. 1, 2021)

In re Splunk Inc. Shareholder Derivative Litigation, Master File No.: CGC-21-589794 (Cal. Super. Ct. Mar. 1, 2021)

Case Details
Class Period -

In the Splunk consolidated shareholder derivative action, plaintiffs filed a shareholder derivative complaint in the Superior Court of the State of California, County of San Francisco, on behalf of nominal defendant Splunk, Inc. (“Splunk” or the “Company&

In the Splunk consolidated shareholder derivative action, plaintiffs filed a shareholder derivative complaint in the Superior Court of the State of California, County of San Francisco, on behalf of nominal defendant Splunk, Inc. (“Splunk” or the “Company”) against certain current and former directors and officers of Splunk (the “Individual Defendants”).  The action generally alleges that the Individual Defendants breached their fiduciary duties by causing and/or authorizing Splunk to make multiple false and misleading statements to the investing public (and failing to correct them after they were made).  Specifically, these statements misrepresented that Splunk: (i) was continuing to invest in marketing when, in fact, it had suspended it investments in marketing; (ii) was continuing to hire new sales personnel when, in fact, it had frozen the hiring of new employees; and (iii) was not laying off employees when, in fact, it had conducted layoffs, including entire business units of the Company.  The action is currently stayed pending resolution of a related securities class action.

Counsel
Timothy J. Peter
tpeter@faruqilaw.com
Phone (215) 277-5770
Fax (215) 277-5771
Office
New York
685 Third Avenue 26th Floor New York New York 10017
Phone (212) 983-9330
Fax (212) 983-9331

Our Offices

Our offices are nationwide. If you have any questions about a case or our firm, please contact us.
Send Us a Message
New York
685 Third Avenue 26th Floor
New York New York 10017
(877) 247-4292 / (212) 983-9330
(212) 983-9331
Los Angeles
1901 Avenue of the Stars Suite 1060
Los Angeles California 90067
(424) 256-2884
(424) 256-2885
Atlanta
3565 Piedmont Road NE Building Four, Suite 380
Atlanta Georgia 30305
(404) 847-0617
(404) 506-9534
Philadelphia
1617 JFK Boulevard, Suite 1550 Philadelphia
Pennsylvania 19103
(215) 277-5770
(215) 277-5771