NEW YORK, April 30, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Palo Alto Networks, Inc. (NASDAQ:PANW) on behalf of long-term stockholders following a class action complaint that was filed against Palo Alto Networks on February 26, 2024 with a Class Period from August 18, 2023 to February 20, 2024. Our investigation concerns whether the board of directors of Palo Alto Networks have breached their fiduciary duties to the company.
After the market close on February 20, 2024, Palo Alto Networks announced financial results for the second quarter of 2024 and lowered its third quarter and full-year billings and revenue guidance. In an earnings call that same day, Defendants explained that "our guidance is a consequence of us driving a shift in our strategy in wanting to accelerate both our platformization and consolidation and activating ...