BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Palo Alto Networks, Inc. (“Palo Alto” or the “Company”) (NASDAQ: PANW) investors concerning the Company’s possible violations of federal securities laws.
On February 21, 2024, Palo Alto released its second quarter fiscal 2024 financial results and lowered its full year revenue and billing guidance. The Company attributed the revision to its “platformization,” in which it will be offering more “freemium” services to on-ramp customers into the full paid services platform, as well as a deal with the federal government that didn’t close as expected.
On this news, Palo Alto’s stock price fell $104.12, or 28.4%, to close at $261.97 per share on February 21, 2024, thereby injuring investors.
If you purchased Palo Alto securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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