LOS ANGELES–(BUSINESS WIRE)–Schall law firma national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Cognyte Software Ltd. (“Cognyte” or “the Company”) (NASDAQ: CGNT) for violating securities laws.
The investigation aims to determine whether the Company has made false and/or misleading statements and/or has failed to disclose relevant information to investors. Cognyte released its fourth quarter 2021 financial results on April 5, 2022, missing analyst estimates for the quarter. The company significantly estimates both sales and non-GAAP earnings per share, as well as the midpoint of its own multimillion-dollar guidance range. According to the company, its weak results were due to supply chain issues and “lower conversions within its product pipeline.” Based on this news, Cognyte shares fell more than 31% on the same day.
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