Investigation Overview
March 28, 2016 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of ServiceNow Inc (NYSE:NOW) was announced over potential breaches of fiduciary duties by certain officers and directors at ServiceNow Inc.
The investigation by a law firm concerns whether certain ServiceNow directors breached their fiduciary duties and caused damage to the company and its shareholders.
Shares of ServiceNow Inc (NYSE:NOW) grew from $46.46 per share in May 2014 to as high as $89.99 per share in December 2015.
On January 27, 2016, ServiceNow Inc reported its financial results for the fourth quarter and fiscal year 2015 and issued its financial guidance for the first quarter 2016 and fully year 2016. ServiceNow Inc reported that its annual Total Revenue rose from $682.56 million in 2014 to over $1 billion in 2015 while its Net Loss increased from $179.39 million in 2014 to $198.43 milion in 2015.
Shares of ServiceNow Inc (NYSE:NOW) declined to as low as $46.00 per share on February 8, 2016.