LOS ANGELES, CA / ACCESSWIRE / August 3, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors ofCognyte Software Ltd. ("Cognyte" or "the Company") (NASDAQ:CGNT) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Cognyte reported its fourth quarter 2021 financial results on April 5, 2022, missing analysts' estimates for the quarter. The Company significantly estimates for both sales and non-GAAP earnings per share, as well as missing the midpoint of its own guidance range by several million dollars. According to the Company, its weak results were due to supply chain problems and "lower conversions within its product pipeline." Based on this news, shares of Cognyte dropped by more than 31% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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SOURCE: The Schall Law Firm