FSLY - SHAREHOLDER ALERT: Fastly Sued for Securities Law Violations; Investors Should Contact Block & Leviton To Learn How They Might Recover Their Losses | Benzinga
BOSTON, June 03, 2024 (GLOBE NEWSWIRE) -- Block & Leviton announces that a securities fraud lawsuit has been filed against Fastly (NYSE:FSLY) and certain of its executives. Investors who have lost money in their Fastly investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/fsly.
What is this all about?
A lawsuit was recently filed against Fastly, Inc., alleging the company and its executives misrepresented to investors that new customer acquisition throughout 2023 would fuel revenue growth in calendar year 2024, when, in fact, Fastly was experiencing a significant deceleration in growth among its largest customers and was losing the market share it had gained through consolidation in 2023. On May 1, 2024, Fastly lowered its FY 2024 revenue guidance by $35 million and explained on an earnings call that "[t]he biggest factor" in the disappointing ...