Investors can Contact the law firm free of charge to learn more about recovering their losses
LOS ANGELES, June 24, 2024 (GLOBE NEWSWIRE) — Portnoy Law Firm advises (“Fastly” or the “Company”) (NYSE: FSLY) Investors have been notified that a shareholder has filed a class action lawsuit on behalf of individuals and entities who purchased or otherwise acquired shares.
Investors who bought and/or sold shares between February 15, 2024 and May 1, 2024 are advised to visit our website.
On May 24, 2024, a lawsuit was filed against the Company and certain of its current officers, alleging that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that (i) contrary to its representations to investors, Fastly was in fact experiencing a significant slowdown in growth among its largest customers and losing the increased market share it had gained as a result of the 2023 CDN consolidation trend; (ii) the foregoing issues were likely to have a material adverse effect on the Company’s revenue growth; (iii) accordingly, the Company was unlikely to achieve its own previously issued revenue guidance for FY 2024; (iv) as a result, the Company’s financial condition and/or prospects were overstated; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
When investors learned the truth, Fastly’s common stock plummeted, hurting them.
Please visit our website to review further information and submit your transaction information.
The Portnoy Law Firm represents investors in claims arising from corporate malpractice. The firm’s founding partner has recovered more than $5.5 billion for injured investors. Attorney Advertising. Past results do not guarantee similar results.
Lesley F. Portnoy, Esq.
Admitted to the bar in California and New York
[email protected]
310-692-8883
www.portnoylaw.com
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