Fastly Sued For Securities Violations; Block & Leviton Encourages Investors Who Have Lost Money to Contact the Firm

Core Viewpoint - A securities fraud lawsuit has been filed against Fastly, Inc. and its executives, alleging misrepresentation regarding customer acquisition and revenue growth expectations for 2024 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Fastly misled investors by stating that new customer acquisition would drive revenue growth in 2024, while the company was actually experiencing a significant slowdown in growth from its largest customers [2]. - On May 1, 2024, Fastly revised its FY 2024 revenue guidance downward by $35 million, attributing the disappointing outlook primarily to reduced revenue from a small number of its largest customers [2]. - Following the announcement of the revised guidance, Fastly's stock price fell by 32% [2]. Group 2: Investor Eligibility - Investors who purchased Fastly common stock between February 15, 2024, and May 1, 2024, and have experienced a decline in their shares may be eligible to participate in the lawsuit, regardless of whether they have sold their investment [3]. Group 3: Next Steps for Investors - The deadline for investors to seek appointment as lead plaintiff is July 23, 2024, and a class has not yet been certified [4]. - Investors who have lost money on their investment are encouraged to contact Block & Leviton for more information [4]. Group 4: Whistleblower Information - Individuals with non-public information about Fastly are encouraged to assist in the investigation or file a report with the SEC under the whistleblower program, which may offer rewards of up to 30% of any successful recovery [5]. Group 5: Firm Background - Block & Leviton is recognized as a leading securities class action firm, having recovered billions for defrauded investors and representing many top institutional investors [6].