In re SentinelOne, Inc. Securities Litigation
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA
IN RE SENTINELONE, INC.
SECURITIES LITIGATION Case No. 23-cv-02786-HSG ORDER GRANTING MOTION TO
DISMISS
9 Re: Dkt. No. 51 This Document Relates to All Actions
12 Pending before the Court is a motion to dismiss Lead Plaintiff’s putative securities class action filed against Defendants SentinelOne, Tomer Weingarten, and David Bernhardt (“Defendants”). Dkt. No. 51. For the reasons below, the Court GRANTS the motion to dismiss WITH LEAVE TO AMEND. I. BACKGROUND SentinelOne is a cybersecurity company that offers its products via subscription contracts, generally on terms of one to three years. Amended Complaint (“AC”) ¶ 3. The company recognizes revenue ratably over the course of a contract in accordance with Generally Accepted Accounting Principles (“GAAP”). Id. It also tracks three non-GAAP “key business metrics,” including Annualized Recurring Revenue (“ARR”). Id. During the Class Period, Defendants defined ARR as “the…