Atlassian Corporation (TEAM) shares fell more than 7% during a volatile trading session on February 11, 2026. The decline followed an announcement from law firm Pomerantz LLP regarding an investigation into potential securities fraud. The firm is currently examining claims of unlawful business practices on behalf of Atlassian investors.
This investigation follows a January price target reduction by Citi that previously triggered a share price decline. The current volatility persists despite market commentator Jim Cramer’s recent praise for Atlassian’s second-quarter earnings beat. Cramer also highlighted the company's upbeat forward guidance.
Investors remain concerned about a rise in insider selling activity. Atlassian continues to report net losses despite maintaining strong revenue growth. The company recently completed a significant share repurchase program.