According to the Complaint, SentinelOne, Inc. is a cybersecurity company that claims to have pioneered the world’s first AI-powered Extended Detection and Response (“XDR”) platform to make cybersecurity defense truly autonomous. The Company claims its Singularity Platform instantly defends against cyberattacks, performing at a faster speed, greater scale, and higher accuracy than otherwise possible from humans.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company lacked effective internal controls over accounting and financial reporting; (2) that, as a result, the Company’s “Annualized Recurring Revenue” or “ARR” was overstated; (3) that, as a result, the Company’s guidance was overstated; and (4) that, as a result of the foregoing, Defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On October 4, 2023, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 23-CV-02786.

Lead Plaintiff filed an amended Complaint on December 18, 2023. Defendants filed a Motion to Dismiss the amended Complaint on February 16, 2024. On July 2, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.