NEW YORK, June 10, 2024 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Fastly, Inc. (“Fastly” or the “Company”) (NYSE: FSLY) for violations of the federal securities laws on behalf of investors who purchased or acquired Fastly common stock between February 15, 2024 and May 1, 2024, inclusive (the “Class Period”).
On May 24, 2024, a complaint 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 deceleration in growth among its largest customers and was 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 negative impact on the Company’s revenue growth; (iii) accordingly, the Company was unlikely to meet its own previously issued revenue guidance for FY 2024; (iv) as a result, the Company’s financial position 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 declined precipitously, injuring investors.
If you suffered a loss of more than $50,000 in Fastly’s securities, and wish to participate, or learn more, please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).
Any investor who wishes to serve as Lead Plaintiff must act before July 23, 2024.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg P.C.
