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The filed complaint alleges that Informatica Inc. made materially false and/or misleading statements and/or failed to disclose that: On February 13, 2025, Informatica issued a press release announcing its fourth quarter 2024 financial results, missing revenue forecasts and issuing disappointing fiscal 2025 guidance on the back of disappointing renewal rates. Informatica disclosed that the company’s cloud renewal rate “had two kinds of issues. One was more operational, execution … and the other one was more organizational, incentive-driven issues.” The company further disclosed that these issues impacting renewal revenues will take time to resolve and are “baked” into the updated 2025 guidance. Following this news, on February 14, 2025, Informatica’s stock price fell by $5.42 per share to close at $19.75 per share.
In order to be eligible to join the INFA class action lawsuit, you must have incurred a loss on shares of Informatica Inc. purchased during the class period listed above.
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