LOS ANGELES–(BUSINESS WIRE)–$SAP #classaction—The Law Offices of Frank R. Cruz continues its investigation of SAP SE (“SAP” or the “Company”) (NYSE: SAP) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On October 25, 2020, SAP announced its third quarter 2020 financial results, reporting that total revenue declined 4% year-over-year. The Company also stated that software license revenue fell 23% year-over-year, while cloud revenue grew 11% year-over-year. SAP 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, the Company’s share price fell $34.66, or 23%, to close at $115.02 per share on October 26, 2020, on unusually heavy trading volume.
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If you purchased SAP securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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