Executives at Alteryx Inc., and its shareholders, have seen their share of recent pain, as the analytics firm’s stock price (NYSE: AYX) has fallen by about two thirds in the past two years, to a market cap now hovering around $4.2 billion. Its shares remain up about fourfold from its 2017 IPO price.
As a result of the recent declines, the company’s had to face what’s known in the industry as “stock drop litigation” lawsuits.
In 2020, three putative securities class action lawsuits were filed against Alteryx and its executive officers in U.S. federal court relating to the stock decline.
In late 2020, the three cases were consolidated into one action.
“Lead Plaintiffs alleged that such persons and entities were harmed as a result of certain alleged false or misleading statements, or omissions, made by us and certain of our executive officers,” Alteryx noted in its annual report.
A year ago, Alteryx filed to dismiss the consolidated complaint, which the Court granted in its entirety in June and “entered final judgment in our favor” last August, the company said.
