In re Palo Alto Networks, Inc. Securities Litigation
Opinion
Trial Court Opinion
IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA
IN RE PALO ALTO NETWORKS,
Lead Case No.: 3:24-cv-01156-CRB
INC. SECURITIES LITIGATION
ORDER GRANTING This Document relates to: DEFENDANTS’ MOTION TO DISMISS ALL ACTIONS
Plaintiffs bring this securities class action on behalf of all persons who purchased or otherwise acquired Palo Alto Networks, Inc. (abbreviated as PANW) common stock, or who sold put options of PANW stock, between August 21, 2023 and February 20, 2024. Plaintiffs allege that PANW and its executive officers violated the Securities Exchange Act by making misleading statements about the company’s financials. Defendants now move to dismiss for failure to state a claim. The Court finds this matter suitable for resolution without oral argument pursuant to Civil Local Rule 7-1(b), vacates the hearing, and GRANTS Defendants’ motion to dismiss without prejudice. I. BACKGROUND A. Parties Lead…