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Reminder for Globant Shareholders: Lead Plaintiff Deadline on June 23, 2026

On May 7, 2026, SueWallSt issued an important alert to investors in Globant S.A. (NYSE: GLOB) regarding an upcoming securities class action lawsuit that identifies three of the company's senior executives as individual defendants. The class period in question runs from February 15, 2024, to August 14, 2025. This lawsuit stems from significant claims against the leadership of Globant concerning major discrepancies in the company’s financial disclosures and operational practices.

Context of the Lawsuit

Globant has seen its share value plummet by approximately 68%, falling from $210.17 to $66.46, following alarming revelations about its business operations across Latin America. These included severe issues with demand, client retention, and operational efficiency, especially in the company’s ambitious $1 billion strategic pivot in the region. These failures were documented through a series of corrective disclosures that shocked investors and led to immense losses.

The leading individual defendants in this case include Martin Migoya, the CEO and Co-Founder of Globant, who has been accused of misrepresenting the company’s position in the Latin American market during various earnings calls. Joining him as defendants are CFO Juan Ignacio Urthiague and former COO Patricia Pomies, both of whom allegedly emphasized growth and stability in the region, despite evident challenges.

The Legal Framework

This lawsuit is structured under the Section 20(a) control person framework, which asserts that each of the individual defendants had the requisite power and authority to influence the contents of the company's SEC filings and public statements. Given their seniority, these executives were expected to prevent misleading statements and correct inaccuracies, yet evidence suggests they failed to do so.

Additionally, under the Sarbanes-Oxley Act, corporate officers like Migoya and Urthiague are held accountable for the precision of financial disclosures they certify. The lawsuit contends they signed certifications reaffirming the truthfulness of Globant's public filings during the period when significant operational issues were being concealed. These allegations raise serious questions about their compliance with regulatory standards.

Key Allegations

The complaint outlines several grave assertions against the executives:

• - Concealment of Issues: Despite mounting evidence of declining demand and client losses, the defendants swayed stakeholder sentiment by characterizing the Latin American market as robust.
• - Wage Freezes: During a time of high inflation, employees in Mexico and Argentina faced salary freezes, leading to unrest. This directly contradicted public statements regarding employee satisfaction and engagement.
• - Client Defections: The firm allegedly failed to adequately address the departures of significant clients, which further eroded investor trust and market standing.
• - Inaccurate Growth Claims: The defendants claimed ongoing positive trends and hiring surges in various Latin American nations, despite the internal realities suggesting otherwise.
• - Rising Restructuring Charges: As the extent of operational failures came to light, Globant faced escalating restructuring costs that had not been communicated to investors previously.

What Shareholders Should Do

The deadline to apply for lead plaintiff status in this class action case is set for June 23, 2026. Shareholders should gather all pertinent brokerage records, including purchase dates, number of shares bought, and prices paid. While no immediate action is necessary for class membership, interested parties are encouraged to reach out to Joseph E. Levi, Esq. at SueWallSt for a complimentary evaluation of their case, or call (888) SueWallSt.

Investors should not delay, as defaults in filing may hinder their ability to recover potential investment losses. Notably, costs for participation in securities class actions are contingent on successful recovery outcomes, meaning no upfront fees or other initial costs are required.

Stay informed and consider your options carefully during this critical period. SueWallSt, recognized as a leader in shareholder rights litigation, stands ready to assist investors seeking accountability and justice from Globant’s leadership.