FSLY INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that Fastly, Inc. Investors with Substantial Losses Have Opportunity to Lead Case

Core Viewpoint - Fastly, Inc. is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims that the company misled investors regarding its financial performance and growth prospects [1][3][7]. Company Summary - Fastly operates an edge cloud platform that processes, serves, and secures customer applications [2]. - The company reported first quarter 2024 revenue of $133.5 million, which missed consensus estimates by $0.35 million [3]. - Fastly lowered its fiscal year 2024 revenue guidance to a range of $555 million to $565 million, down from a previous guidance of $580 million to $590 million [3]. Allegations Summary - The lawsuit alleges that Fastly experienced a significant deceleration in growth among its largest customers and was losing market share gained from the 2023 Content Delivery Network consolidation trend [7]. - It is claimed 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 fiscal year 2024 [7]. - The lawsuit asserts that Fastly's financial position and prospects were overstated, misleading investors [7].