Key says insider trading claim against Palo Alto directors without merit

John Key said such lawsuits are not uncommon in the US

Mon, 20 May 2024

Former prime minister John Key has been named in a series of “copycat” US lawsuits targeting tech giant Palo Alto Networks, which he is a director of.A shareholder-led class action filed in April alleges executives and directors of Palo Alto misled investors about the prospects of the company’s products and services and that the company’s high growth in billings was not sustainable.It has also been reported that shareholders have alleged directors and managers sold off a large number of shares, which the lawsuits allege...

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