FSLY Investors Have Opportunity to Lead Fastly, Inc. Securities Fraud Lawsuit

PRNewswire 25-Jun-2024 9:43 PM

LOS ANGELES, June 25, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Fastly, Inc. ("Fastly" or the "Company") (NYSE:FSLY).

Class Period: February 15, 2024 – May 1, 2024
Lead Plaintiff Deadline: July 23, 2024

If you are a shareholder who suffered a loss, click here to participate.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) 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; (2) the foregoing issues were likely to have a material negative impact on the Company's revenue growth; (3) accordingly, the Company was unlikely to meet its own previously issued revenue guidance for FY 2024; (4) as a result, the Company's financial position and/or prospects were overstated; and (5) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.  If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com.  If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles