SENTINELONE SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in
NEW ORLEANS , June 07 /Businesswire/ - Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 7, 2023 to file lead plaintiff applications in a securities class action lawsuit against SentinelOne, Inc. (NYSE: S), if they purchased the Company’s securities between June 1, 2022 and June 1, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of SentinelOne and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-s/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 7, 2023.
About the Lawsuit
SentinelOne and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On June 1, 2023, the Company disclosed that “[a]s a result of a change in methodology and correction of historical inaccuracies…we made a one-time adjustment to ARR of $27.0 million or approximately 5% of total ARR” and that the Company had slashed its fiscal year 2024 revenue guidance from a range of $631 million to $640 million to a range of $590 million to $600 million, due to the discovery of “historical upsell and renewal recording inaccuracies relating to ARR on certain subscription and consumption contracts, which are now corrected.”
On this news, shares of SentinelOne fell $7.28 per share, or more than 35%, to close at $13.44 per share on June 2, 2023.
The case is Johansson v. SentinelOne, Inc., et al., No. 23-cv-02786.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit http://ksfcounsel.com/.
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