According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- contrary to its representations to investors, Fastly was in fact experiencing a significant deceleration in growth among its largest consumers and was losing the increased market share it had gained as a result of the 2023 Content Delivery Network (“CDN”) consolidation trend;
- the foregoing issues were likely to have a material negative impact on the Fastly’s revenue growth;
- accordingly, Fastly was unlikely to meet its own previously issued revenue guidance for the 2024 fiscal year;
- as a result, Fastly’s financial position and/or prospects were overstated; and
- as a result, Fastly’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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