SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alteryx, Inc. of Class Action

Christel Deskins

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Alteryx, Inc. of Class Action Lawsuit and Upcoming Deadline – AYX NEW YORK, Oct. 12, 2020 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Alteryx, Inc. (“Alteryx” or the “Company”) (NYSE: […]

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on
their Investment in Alteryx, Inc. of Class Action Lawsuit and Upcoming
Deadline – AYX

NEW YORK, Oct.  12, 2020 (GLOBE  NEWSWIRE) -- Pomerantz  LLP announces that  a
class action lawsuit has  been filed against Alteryx,  Inc. (“Alteryx” or  the
“Company”) (NYSE: AYX) and certain of its officers.   The class action,  filed
in United States District  Court for the Central  District of California,  and
docketed under 20-cv-01886, is on behalf of a class consisting of all  persons
other than Defendants who purchased or otherwise, acquired Alteryx  securities
between May  6, 2020  and  August 6,  2020,  inclusive (the  “Class  Period”).
Plaintiff pursues claims against the Defendants under the Securities  Exchange
Act of 1934 (the “Exchange Act”).

If you are  a shareholder who  purchased Alteryx securities  during the  class
period, you have until October  19, 2020, to ask the  Court to appoint you  as
Lead Plaintiff for  the class.  A  copy of  the Complaint can  be obtained  at
www.pomerantzlaw.com.   To discuss this  action, contact Robert S.  Willoughby
at [email protected]  or 888.476.6529  (or 888.4-POMLAW),  toll-free,  Ext.
7980. Those who  inquire by  e-mail are  encouraged to  include their  mailing
address, telephone number, and the number of shares purchased. 

         [Click here for information about joining the class action]

Alteryx is a data analytics company that offers a subscription-based  platform
for customers  to  access, prepare,  and  analyze  data from  a  multitude  of
sources, then  deploy  and  share  analytics  at  scale  to  make  data-driven
decisions.

The complaint  alleges  that  throughout the  Class  Period,  Defendants  made
materially false and misleading  statements regarding the Company’s  business,
operational, and  compliance policies.   Specifically, Defendants  made  false
and/or misleading  statements and/or  failed to  disclose that:  (i) that  the
Company was unable  to close  large deals within  the quarter  and deals  were
pushed out  to subsequent  quarters  or downsized;  (ii)  that, as  a  result,
Alteryx increasingly relied  on adoption  licenses to  attract new  customers;
(iii) that, as a result, and because  of the nature of adoption licenses,  the
Company’s revenue was reasonably likely to decline; and (iv) that, 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.

On August 6, 2020, the Company announced in a press release its second-quarter
2020 financial results,  and disappointing  growth projections  for the  third
quarter and  full-year  2020. Therein,  Alteryx  stated that,  for  the  third
quarter, it expected revenue “to be in  the range of $111.0 million to  $115.0
million, an increase of  7% to 11% year-over-year.”  Moreover, for the  fiscal
year 2020, the Company expected revenue “to be in the range of $460.0  million
to $465.0 million, an increase of 10% to 11% year-over-year.”

On this news, the Company’s share price fell $47.62 per share, or over 28%, to
close at $121.38 per share on August 7, 2020, thereby injuring investors.  The
stock price continued to decline over  the next trading session by $12.15  per
share, or 10%, to close at $109.23 per share on August 10, 2020,  representing
a cumulative decline of $59.77 per share, or over 35%.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and  Paris
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,  the Pomerantz  Firm
pioneered the field  of securities class  actions. Today, more  than 80  years
later, the Pomerantz Firm 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.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
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