Investors with a $100,000 or more in losses are encouraged to contact the firm before October 19, 2020; click here to submit trade information
LOS ANGELES, Oct. 16, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Alteryx, Inc. (NYSE: AYX) investors that acquired shares between May 6, 2020 and August 6, 2020. Investors have until October 19, 2020 to seek an active role in this litigation.
It is alleged within the complaint filed in this class action that throughout the class period, defendants made materially misleading and/or false statements, as well as failed to disclose facts that were materially adverse in regard to the company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the company was unable to close large deals within the quarter, leading to deals being downsized or postponed to subsequent quarters; (2) that, as a result, Alteryx increasingly relied on adoption licenses in order to attract new customers; (3) that, due to the nature of adoption licenses, it was reasonably likely that the Company’s revenue would decline as a result; and (4) that, positive statements made by the Defendant about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, as a result of the foregoing.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 19, 2020.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.