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Case Status:    ONGOING    
On or around 08/25/2020 (Date of last review)

Filing Date: August 24, 2020

According to the Complaint, Anaplan Inc. is a software company that provides a cloud-based connected planning platform to connect organizations and people. One of the most important financial metrics for investors in analyzing Anaplan’s performance is “calculated billings.” The Company defines calculated billings as revenue plus the sequential change in total deferred revenue as presented on the balance sheet. Calculated billings are used by investors to evaluate subscription businesses, such as Anaplan, that do not directly disclose billings as a part of their financial reporting.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose to investors that: (1) the Company was undergoing sales organization and execution challenges; (2) these organizational challenges were causing the Company to miss on closing very important large deals; and (3) as a result, Anaplan’s financial guidance for “calculated billings growth” was baseless and unattainable. The Complaint further alleges that, while in possession of this material non-public information, Anaplan insiders dumped approximately $30 million worth of Anaplan stock at artificially inflated prices.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PLAN
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 20-CV-05959
JUDGE: Hon. Richard Seeborg
DATE FILED: 08/24/2020
CLASS PERIOD START: 11/21/2019
CLASS PERIOD END: 02/26/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. (New Los Angeles)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available