Portnoy Law Firm Announces Class Action on Behalf of Globant SA Investors
LOS ANGELES, April 29, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Globant SA, (“Globant” or the "Company") (NYSE: GLOB) investors of a class action on behalf of investors that bought securities between February 15, 2024 and August 14, 2025, inclusive (the “Class Period”). Globant investors have until June 23, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/globant-sa. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
According to the complaint, in mid-2023, Globant announced a $1 billion strategic pivot to increase its Latin American business. 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.
Plaintiff alleges that 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.
On August 14, 2025, Globant fully disclosed the true extent of its failures in Latin America. Reporting mixed Q2 2025 results, Globant announced that it had reduced its headcount by 2% in Q2, or about 1,000 employees, and taken a $47.6 million restructuring charge. On this news, Globant's stock price dropped from a closing price of $78.12 per share on August 14, 2025, to a closing price of $66.46 per share on August 15, 2025.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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