NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers of securities of Elastic N.V. (NYSE: ESTC) between May 31, 2024 and August 29, 2024. Elastic describes itself as “the Search AI [artificial intelligence] Company.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Elastic N.V. (NYSE: ESTC) Misled Investors Regarding its Business Operations.
According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) Elastic had implemented significant changes to its sales operations, particularly with respect to its customer segments in the Americas; (2) the foregoing changes were likely to, and did, disrupt Elastic’s sales operations during the first quarter of its fiscal year (“FY”) 2025; (3) accordingly, defendants had overstated the stability of Elastic’s sales operations; (4) as a result of all the foregoing, Elastic was unlikely to meet its own previously issued revenue guidance for its FY 2025; and (5) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Elastic N.V. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by April 14, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.
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