Fastly, Inc. Investors Notice: Class action lawsuit filed on behalf of investors; the Portnoy Law Firm

Globe Newswire 24-Jun-2024 6:25 PM

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, June 24, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises ("Fastly" or the "Company") (NYSE:FSLY) investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired shares.

Investors who purchased and/or sold shares between February 15, 2024 and May 1, 2024 are advised to visit our website.

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.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against 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 and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
Attorney Advertising