| COMPANY |
Alteryx, Inc. |
| COURT |
United States District Court for the Central District of California |
| CASE NUMBER |
20-cv-01540 |
| JUDGE |
The Hon. David O. Carter |
| CLASS PERIOD |
May 6, 2020 - August 6, 2020 |
| SECURITY TYPE |
Common Stock |
Case Background:
On August 19, 2020 the initial complaint in this securities class action was filed against Alteryx, Inc. (“Alteryx” or the “Company”) and certain of Alteryx’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action on behalf of all persons who purchased or otherwise acquired Alteryx’s securities between May 6, 2020 through August 6, 2020 both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and. prospects. Specifically, the complaint alleges that Defendants failed to disclose to investors that: (1) the Company was unable to close large deals within the quarter and deals were pushed out to subsequent quarters or downsized; (2) as a result, Alteryx increasingly relied on adoption licenses to attract new customers; (3) as a result and due to the nature of adoption licenses, the Company’s revenue was reasonably likely to decline; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On January 28, 2021, Lead Plaintiffs filed an amended complaint (the “Amended Complaint”). Defendants filed a Motion to Dismiss the Amended Complaint on March 19, 2021. Defendants’ Motion to Dismiss was granted by the Court on June 17, 2021 and Judgment was entered in favor of Defendants on August 3, 2021. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.