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SHAREHOLDER REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Elastic N.V.
ESTCElastic(ESTC) Prnewswire·2025-02-27 15:46

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Elastic N.V. due to significant changes in its sales operations that allegedly misled investors regarding the company's revenue guidance for FY 2025 [2][4]. Group 1: Legal Investigation and Claims - Faruqi & Faruqi, LLP is encouraging investors who suffered losses exceeding 100,000inElasticbetweenMay31,2024,andAugust29,2024,todiscusstheirlegalrights[1].−ThefirmisinvestigatingclaimsagainstElasticandremindsinvestorsoftheApril14,2025,deadlinetoseektheroleofleadplaintiffinafederalsecuritiesclassaction[2].−ThecomplaintallegesthatElasticanditsexecutivesviolatedfederalsecuritieslawsbymakingfalsestatementsandfailingtodisclosesignificantoperationalchangesthatdisruptedsales[4].Group2:FinancialPerformanceandGuidance−OnAugust29,2024,ElasticannouncedarevisedFY2025revenueguidanceof100,000 in Elastic between May 31, 2024, and August 29, 2024, to discuss their legal rights [1]. - The firm is investigating claims against Elastic and reminds investors of the April 14, 2025, deadline to seek the role of lead plaintiff in a federal securities class action [2]. - The complaint alleges that Elastic and its executives violated federal securities laws by making false statements and failing to disclose significant operational changes that disrupted sales [4]. Group 2: Financial Performance and Guidance - On August 29, 2024, Elastic announced a revised FY 2025 revenue guidance of 1.436 billion to 1.444billion,reflectingadecreasefromthepreviousguidanceof1.444 billion, reflecting a decrease from the previous guidance of 1.468 billion to 1.48billion[5].−Thenewguidanceindicatesa141.48 billion [5]. - The new guidance indicates a 14% year-over-year growth at the midpoint, down from the earlier forecast of 16% [5]. - The company attributed the revenue guidance cut to a slower start to the year and disruptions caused by segmentation changes in its sales operations [5]. Group 3: Market Reaction - Following the announcement of the revised revenue guidance, Elastic's share price fell by 27.45, or 26.49%, closing at $76.19 per share on August 30, 2024 [6]. Group 4: Class Action Participation - The lead plaintiff in the class action will be the investor with the largest financial interest who is adequate and typical of class members [7]. - Any member of the putative class can move the Court to serve as lead plaintiff or choose to remain an absent class member without affecting their ability to share in any recovery [7]. Group 5: Additional Information - Faruqi & Faruqi, LLP is also seeking information regarding Elastic's conduct from whistleblowers, former employees, and shareholders [8].