SAN DIEGO, June 20, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Fastly, Inc. (NYSE: FSLY) securities between February 15, 2024 and May 1, 2024. Fastly operates an edge cloud platform for processing, serving, and securing customer's applications. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Inves ...

NEW YORK, June 20, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Fastly, Inc. (NYSE: FSLY). CLASS PERIOD: February 15, 2024 to May 1, 2024 CONTACT US HERE: ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially 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 ...

LOS ANGELES, June 19, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Fastly, Inc. ("Fastly" or "the Company") (NYSE: FSLY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. If you are a shareholder who suffered a loss, click here to participate. The class, in this case, has not yet been certified, and ...

DEFENDANTS' ALLEGED MISCONDUCT On February 14, 2024, Fastly issued a press release providing full year ("FY") 2024 revenue guidance in a range of $580 million to $590 million. In that same press release, Fastly's CEO was quoted stating, "[t]his quarter demonstrated the progress we've made in operational and financial rigor resulting in strong gross margins and non-GAAP net income," and "[o]ur go-to-market, packaging and channel efforts through 2023 delivered an inflection in our customer acquisition as we c ...

Core Viewpoint - The allegations against Fastly, Inc. suggest that the company misled investors regarding its growth and market position, particularly during the class period from February 15, 2024, to May 1, 2024, which may have significant implications for its financial outlook and stock performance [2][6]. Group 1: Allegations - The complaint alleges that Fastly experienced a significant deceleration in growth among its largest customers, contrary to its representations to investors [2]. - It is claimed that Fastly was losing market share gained from the 2023 content delivery network consolidation trend, which is expected to negatively impact the company's revenue growth [2]. - The company is unlikely to meet its previously issued revenue guidance for FY 2024 due to these issues, leading to an overstated financial position and prospects [2]. Group 2: Shareholder Actions - Shareholders who purchased shares of Fastly during the specified class period are encouraged to register for potential lead plaintiff appointment, with a deadline set for July 23, 2024 [3][6]. - Once registered, shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the lifecycle of the case [3].

LOS ANGELES, June 18, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming July 23, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Fastly, Inc. ("Fastly" or the "Company") (NYSE: FSLY) securities between February 15, 2024 and May 1, 2024, inclusive (the "Class Period"). If you suffered a loss on your Fastly investments or would like to inquire about potentially pursuing claims to rec ...

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]. - Consequently, the Company's financial position and prospects were overstated, leading to materially false and misleading public statements [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the relevant 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: Firm Background - Levi & Korsinsky, LLP has a strong track record, having secured hundreds of millions of dollars for shareholders over the past 20 years and is recognized as one of the top securities litigation firms in the United States [4].

Core Viewpoint - The Gross Law Firm has initiated a class action lawsuit against Fastly, Inc. (NYSE: FSLY) due to allegations of misleading statements and failure to disclose significant issues affecting the company's growth and revenue guidance [4]. Group 1: Allegations Against Fastly - The complaint alleges that during the class period, Fastly issued materially false and/or misleading statements regarding its growth, particularly indicating that it was experiencing a significant deceleration in growth among its largest customers [4]. - It is claimed that Fastly was losing market share gained from the 2023 content delivery network consolidation trend, which was likely to have a material negative impact on the company's revenue growth [4]. - The company is alleged to have overstated its financial position and prospects, leading to public statements that were materially false and misleading at all relevant times [4]. Group 2: Class Action Details - Shareholders who purchased shares of FSLY during the specified class period are encouraged to contact the Gross Law Firm regarding possible lead plaintiff appointment, although this appointment is not required to partake in any recovery [3]. - The deadline for shareholders to register for the class action is July 23, 2024, and they will be enrolled in a portfolio monitoring software for status updates throughout the case lifecycle [5].

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]