Palo Alto Networks (PAN) is facing a proposed class action lawsuit that alleges investors were deceived about the traction of its platform tactics and hurt by an unexpectedly low billings forecast that crashed the share price. The US security biz last week reported a 19 percent bounce in sales to $1.975 billion for its Q2 ended January 31, and net income of $1.476 billion helped by a tax benefit.

Source: The Register