An investigation on behalf of investors of SAP SE (NYSE: SAP) shares over potential securities laws violations by SAP SE and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of SAP SE (NYSE: SAP) concerning whether a series of statements by SAP SE regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Germany based SAP SE operates as an enterprise application software, and analytics and business intelligence company worldwide. SAP SE reported that its annual Total Revenue rose from over 24.7 billion EUR in 2018 to over 27.55 billion EUR in 2019, and that its EBIT declined from over 6.01 billion EUR in 2018 to 5.18 billion EUR in 2019.

On October 25, 2020, SAP SE reported its third quarter 2020 financial results. Citing an expected new wave of lockdowns, SAP SE cut the Company's revenue forecast and issued a profit and sales warning.

Shares of SAP SE (NYSE: SAP) declined from $159.46 per share on October 12, 2020 to as low as $104.64 per share on November 2, 2020.