Elastic(ESTC) Prnewswire·2025-02-24 10:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Elastic N.V. regarding a class action lawsuit due to alleged misleading statements and operational disruptions affecting sales during FY 2025 [1]. Group 1: Allegations - The complaint alleges that Elastic made materially false and misleading statements during the class period from May 31, 2024, to August 29, 2024 [1]. - Significant changes were implemented in Elastic's sales operations, particularly affecting customer segments in the Americas, which disrupted sales operations in the first quarter of FY 2025 [1]. - As a result of these changes, Elastic was unlikely to meet its previously issued revenue guidance for FY 2025, leading to overstated stability in its sales operations [1]. Group 2: Class Action Details - Shareholders who purchased shares of ESTC during the specified class period are encouraged to register for the class action, with a deadline for lead plaintiff appointment set for April 14, 2025 [2]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the status of the case [2]. - Participation in the case incurs no cost or obligation for the shareholders [2]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors affected by deceit and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3].