On June 1, 2023, after the market closed, SentinelOne published a press release titled "SentinelOne Announces First Quarter Fiscal Year 2024 Financial Results." Therein, the Company stated that "[a]s a result of a change in methodology and correction of historical inaccuracies. .. [the Company has] made a one-time adjustment to ARR of $27.0 million[.]" On this news, the price of SentinelOne shares declined by $7.28 per share, or approximately 35.14%, from $20.72 per share to close at $13.44 on June 2, 2023. The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose that: (1) SentinelOne lacked effective internal controls over accounting and financial reporting; (2) as a result, the Company's ARR was overstated; and (3) as a result, the Company's guidance was overstated.