Elastic(ESTC) Prnewswire·2025-04-04 09:45Core Viewpoint - A class action securities lawsuit has been filed against Elastic N.V. for alleged securities fraud affecting investors between May 31, 2024, and August 29, 2024 [1] Group 1: Allegations and Impact - The lawsuit claims that Elastic made false statements regarding significant changes to its sales operations, particularly affecting customer segments in the Americas [2] - These changes reportedly disrupted Elastic's sales operations during the first quarter of FY 2025, leading to an overstatement of the stability of its sales operations [2] - As a result, Elastic is unlikely to meet its previously issued revenue guidance for FY 2025, making the defendants' public statements materially false and misleading [2] Group 2: Legal Process and Participation - Investors who suffered losses during the relevant timeframe have until April 14, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require this [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 has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the top securities litigation firms in the United States [4]