Fastly, Inc. Investors Notice: Class action lawsuit filed on behalf of investors; the Portnoy Law Firm

Core Viewpoint - A class action lawsuit has been filed against Fastly, alleging that the company made false statements regarding its growth and financial position, leading to significant losses for investors [2][3]. Group 1: Lawsuit Details - A shareholder filed a class action on behalf of individuals and entities that purchased or acquired shares of Fastly between February 15, 2024, and May 1, 2024 [1]. - The complaint alleges that Fastly experienced a significant deceleration in growth among its largest customers and was losing market share gained from the 2023 CDN consolidation trend [2]. - The lawsuit claims that these issues would materially negatively impact the company's revenue growth and that Fastly was unlikely to meet its previously issued revenue guidance for FY 2024 [2]. Group 2: Impact on Investors - Following the revelation of these issues, Fastly's common stock declined sharply, resulting in injuries to investors [3]. - The Portnoy Law Firm has a history of recovering over $5.5 billion for aggrieved investors, indicating a potential for recovery for those affected by the alleged corporate wrongdoing [3].