NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against SAP SE (NYSE: SAP) on behalf of SAP stockholders. Our investigation concerns whether SAP has violated the federal securities laws and/or engaged in other unlawful business practices.
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On October 25, 2020, the Company announced its third quarter 2020 financial results, reporting that total revenue declined 4% year-over-year. SAP also stated that software license revenue fell 23% year-over-year, while cloud revenue grew 11% year-over-year. The Company also lowered its fiscal 2020 guidance, expecting between €8.0 and 8.2 billion cloud revenue, compared to prior guidance of cloud revenue between €8.3 and 8.7 billion.
On this news, SAP’s share price fell $34.66, or 23%, to close at $115.02 per share on October 26, 2020.
If you purchased or otherwise acquired SAP shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.