Palantir Investor Alleges Nearly $100 Million in Insider Trading

Palantir Technologies Inc. officers and directors reaped almost $100 million in insider stock sales during a period when they touted typically helpful global conditions and concealed slippage in quarterly growth, a stockholder says in a new derivative suit.

Co-founder and board chair Peter Thiel is named as a defendant in the suit, though he is not alleged to have engaged in insider trading. Plaintiff Yongfeng Li filed the complaint Monday in the US District Court for the District of Colorado against nine individual executives and board members in total, and against Palantir as a nominal defendant.

The securities fraud claims ...