In mid-2023, Globant announced a $1 billion strategic pivot to increase its Latin American business. According to the lawsuit, throughout the Class Period, Globant touted to investors the success of its Latin American pivot and the strength of its Latin American operations, as well as heralded itself as a market leader and employer of choice in the region. Unbeknownst to investors, Globant’s Latin American strategy was not successful. In reality, Globant was facing pervasive problems with its Latin American operations, including declining demand for its services, client defections, and project cancellations. Globant also froze wages for its employees in Mexico and Argentina, further harming its Latin American operations and leading to widespread employee turmoil and degraded client services.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.
