NEW YORK, Jan. 27, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Ping Identity Holding Corp. ("Ping" or the "Company") PING. Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Ping and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 24, 2021, Ping announced the Company's financial and operating results for 2020. Among other items, Ping disclosed that its annual recurring revenue had increased only 15% year-over-year, stating that the Company had experienced "some shortening of contract durations . . . largely driven by budget and overall uncertainty around COVID."
On this news, Ping's stock price fell $9.07 per share, or 27.99%, to close at $23.34 per share on February 25, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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