Investor Alert: Kaplan Fox Investigates Anaplan For Potential Securities Fraud

NEW YORK, Sept. 10, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Anaplan, Inc. ("Anaplan" or the "Company") (NYSE: PLAN).  A complaint has been filed on behalf of investors who purchased or otherwise acquired Anaplan common stock between November 21, 2019 and February 26, 2020 inclusive (the "Class Period").

On February 27, 2020, Anaplan announced that, although it slightly exceeded revenue guidance for the quarter, which grew at a rate of 42% year-over-year, its calculated billings for the fourth quarter fell short of consensus. Specifically, billings were only $126 million, representing a growth rate of 25%, which was well below consensus estimates of $138 million, roughly half of the Company's historical growth rates of 46% to 59%, and significantly less than the Company's rate of revenue growth of over 40%. These results were in stark contrast to management's previous representation that calculated billings growth rate would track the revenue growth rate.

Following this news, Anaplan's stock price fell $14.06 per share, or 24.2%, to close at $44.03 per share on February 27, 2020.

If you are a member of the proposed Class, you may move the court no later than October 23, 2020 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling 646-315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: [email protected]

SOURCE Kaplan Fox & Kilsheimer LLP