Splunk Inc. got preliminary approval for a $30 million deal to settle a class action alleging that it misled investors with financial projections before the stock’s worst selloff ever, according to a judge’s order.
The investors who brought the class action proposed a settlement with the software company in February, which Judge Jon Tigar greenlit on Tuesday in US District Court for the Northern District of California.
Initially filed in December 2020, the suit alleged Splunk misled investors that it was on track to reach its third quarter projections, failing to disclose that the company wasn’t closing deals with ...
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