SentinelOne Investors Sue For Losses Over Slashed Forecast

Cybersecurity firm SentinelOne Inc. misled investors about its financial outlook and lacked effective controls over its accounting practices, a new lawsuit said.

Christopher Nyren seeks proper class certification for investors who acquired SentinelOne securities between June 1, 2022 and June 1, 2023. Nyren alleges two violations under the US Exchange Act against the company, CEO Tomer Weingarten and chief financial officer David Bernhardt.

The company on June 1 published a press release that said a change in its methodology led to a “correction of historical inaccuracies” and a “one-time adjustment to ARR of $27 million.” SentinelOne stock fell 35% the ...