Anaplan Investor Stock Drop Suit Total ‘Fabrication,’ Firm Says

Anaplan Inc. investors who accused the company of misleading them about problems closing large deals “substituted hindsight and innuendo for facts,” the company told a federal court in California.

The would-be class suit against the cloud-based software company over lower-than-expected billings growth is “quintessential fraud-by-hindsight” and should be dismissed with prejudice, according to Anaplan’s motion in the U.S. District Court for the Northern District of California.

The complaint alleging that Anaplan knew its “optimistic statements” on its sales and growth were false is a “complete after-the-fact fabrication,” the motion said. The suit lacks “any particularized allegations that the statements at ...