Stock Track | Globant SA Plummets 5.03% Intraday on Shareholder Class Action Lawsuit News

Stock Track05-21

Globant SA's stock plummeted 5.03% during intraday trading on Thursday following news of a shareholder class action lawsuit against the company.

The lawsuit alleges that Globant made misstatements regarding its $1 billion strategic pivot to expand in Latin America. According to the complaint, the company overstated regional strength while actual demand was weakening, projects were being canceled, and the December 2023 acquisition in Brazil was poorly integrated. The lawsuit also cites wage freezes in Mexico and Argentina that allegedly hurt employee morale and service delivery.

The securities class action covers investors who purchased shares between February 15, 2024 and August 14, 2025, with a lead plaintiff deadline of June 23, 2026.

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