Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
FSLY.US
id: 1234

Fastly (FSLY) Contracts Repricing Case

N.D. California
Court
3:24-cv-03170
Case number
15 Feb 2024
Class period Start
01 May 2024
Class period End
23 Jul 2024
Lead Plaintiff motion deadline
  • $FSLY stockholder filed a claim vs. Fastly for hiding its market share loss and overstating its financial position and prospects.
  • On May 2, 2024, on the news of material contract repricing in Fastly's top customers, $FSLY fell 32%, losing $565M+ in shareholder value.
  • Fastly investors can join this case to be notified about potential recovery.
Case Details:

On May 1, 2024, Fastly disclosed that it was experiencing significant contract repricing in its top customers.

Fastly's Q1 2024 financial results, released that day, fell short of revenue expectations by $0.35M.

Additionally, they revised down their full-year revenue forecast.

On this news, $FSLY fell 32% on May 2, 2024, losing $565M+ in shareholder value.

Based on this information $FSLY stockholder filed a claim against Fastly and its leaders, accusing them of the following:
  • Fastly was hiding its slower growth and decreasing market share;
  • The Company was unlikely to meet its own revenue guidance for FY 2024;
  • As a result, Fastly’s financial position and prospects were overstated.
Considering all the representations, investors suspect Fastly of hiding information about its business, operations and prospects.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
02 May 2024
Filing date
24 May 2024
Lead Plaintiff Deadline
23 July 2024
Collecting participants…