Core Viewpoint - Fastly, Inc. is facing significant challenges due to revenue declines from its largest customers, leading to a class action lawsuit and a downgrade from Bank of America, which has negatively impacted its stock price. Group 1: Financial Performance - Fastly reported Q1 2024 revenue of $133.52 million, missing consensus estimates by $0.35 million [4] - The company lowered its fiscal year 2024 revenue guidance to $555 million to $565 million, down from the previous guidance of $580 million to $590 million, and below consensus estimates of $584.62 million [4] - Fastly's CEO attributed disappointing results to a reduction of revenue from a small number of its largest customers and noted significant volatility in its CDN strategy [2] Group 2: Legal Issues - A class action lawsuit has been filed on behalf of investors who acquired Fastly securities between February 15, 2024, and May 1, 2024, with a deadline of July 23, 2024, for lead plaintiff applications [1] - The lawsuit alleges that Fastly made false or misleading statements regarding its growth and market share, which contributed to the company's inability to meet its revenue guidance for FY 2024 [5] Group 3: Market Reaction - Following the announcement of disappointing results and lowered guidance, Bank of America downgraded Fastly's stock from "Buy" to "Underperform" and cut its price target from $18 to $8 per share [7] - Fastly's stock price declined by approximately 32.02%, falling from $12.93 to $8.79 per share in response to the downgrade [7]

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Fastly, Inc. securities between February 15, 2024, and May 1, 2024, of the lead plaintiff deadline on July 23, 2024, for a class action lawsuit [1] Group 1: Class Action Details - Investors who purchased Fastly securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [5] - The lawsuit alleges that Fastly made false and misleading statements regarding its growth and market share, which negatively impacted its revenue growth and financial position [6] - The lawsuit claims that when the true details were revealed, investors suffered damages due to the misleading public statements made by Fastly [6] Group 2: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company and being ranked No. 1 for securities class action settlements in 2017 [2] - The firm has recovered hundreds of millions of dollars for investors, securing over $438 million in 2019 alone [2] - Founding partner Laurence Rosen was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020, highlighting the firm's expertise in this area [2]

RADNOR, Pa., June 11, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California against Fastly, Inc. ("Fastly") (NYSE: FSLY). The action charges Fastly with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company's business, operations, and prospects. As a result of Fas ...

BOSTON, June 11, 2024 (GLOBE NEWSWIRE) -- Block & Leviton announces that a securities fraud lawsuit has been filed against Fastly, Inc. (NYSE: FSLY) and certain of its executives. Investors who have lost money in their Fastly investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/fsly. A lawsuit was recently filed against Fastly, Inc., alleging the company and its executives misrepresented to investors that new custo ...

Do you, or did you, own shares of Fastly, Inc. (NYSE: FSLY)? Did you lose money in your investment in Fastly, Inc.? If you purchased or acquired Fastly securities, and/or would like to discuss your legal rights and options please visit Fastly, Inc. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com. According to the Complaint, Defendants failed to disclose to investors that: (i) contrary to its representations to investors, Fastly ...

NEW YORK, June 10, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Fastly, Inc. (NYSE: FSLY). https://securitiesclasslaw.com/securities/fastly-loss-submission-form/?id=83257&from=4 NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of FSLY during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead p ...

Core Viewpoint - Fastly, Inc. is facing a class action securities lawsuit due to alleged securities fraud that negatively impacted investors between February 15, 2024, and May 1, 2024 [1][2]. Group 1: Allegations and Impact - The lawsuit claims that Fastly misrepresented its growth, indicating a significant deceleration among its largest customers and a loss of market share gained from the 2023 content delivery network consolidation trend [2]. - It is alleged that these issues would materially negatively affect the Company's revenue growth and that Fastly was unlikely to meet its previously issued revenue guidance for FY 2024 [2]. - The lawsuit asserts that Fastly's financial position and prospects were overstated, making its public statements materially false and misleading during the relevant period [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until July 23, 2024, to request appointment as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Legal Representation - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Contacts Law Offices of Howard G. Smith Howard G. Smith, Esquire 215-638-4847 [email protected] www.howardsmithlaw.com SOURCE Law Offices of Howard G. Smith BENSALEM, Pa., June 6, 2024 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Fastly, Inc. ("Fastly" or the "C ...

Shareholders who purchased shares of FSLY during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CLASS PERIOD: February 15, 2024 to May 1, 2024 DEADLINE: July 23, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/fastly-loss-submission-form/?id=82897&from=3 WHY GROSS LAW FIRM? The G ...

Core Viewpoint - Rosen Law Firm has filed a class action lawsuit on behalf of purchasers of Fastly, Inc. securities, alleging misleading statements and failure to disclose significant issues affecting the company's growth and revenue guidance during the specified Class Period from February 15, 2024, to May 1, 2024 [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Fastly misrepresented its growth, stating that it was experiencing a significant deceleration among its largest consumers and losing market share gained from the 2023 CDN consolidation trend [5]. - It is alleged that these issues would materially negatively impact Fastly's revenue growth and that the company was unlikely to meet its previously issued revenue guidance for the 2024 fiscal year [5]. - The lawsuit asserts that Fastly's financial position and prospects were overstated, leading to materially false and misleading public statements [5]. Group 2: Class Action Participation - Investors who purchased Fastly securities during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, investors can visit the provided link or contact the law firm directly for more information [3][6]. - A lead plaintiff is needed to represent other class members, and interested parties must move the Court by July 23, 2024 [1][3].