Palantir Hit With Class Suit Over Stock Drop After Disclosures

Palantir Technologies Inc. was hit with a proposed securities class action in federal court on Thursday by an investor who said the company misled investors about its marketable securities investments, leading to a stock drop.

Minchie Galot Cupat sued claiming that Palantir’s stock price fell $2.02 per share when it disclosed that that its marketable securities investments, equity securities in publicly traded companies, were having a negative impact on the company’s earning per share results.

Palantir is further accused of overstating the sustainability of its government segment’s growth and revenues,

Because the company didn’t make the appropriate disclosures, the complaint ...