Investigation announced for Investors in shares of Elastic N.V. (NYSE: ESTC) over possible Violations of Securities Laws

An investigation was announced on behalf of investors of Elastic N.V. (NYSE: ESTC) shares over potential securities laws violations by Elastic N.V. in connection with certain financial statements.

Investors who purchased shares of Elastic N.V. (NYSE: ESTC), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Elastic N.V. (NYSE: ESTC) concerning whether a series of statements by Elastic N.V. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Amsterdam, Netherlands based Elastic N.V., a search artificial intelligence (AI) company, delivers hosted and managed solutions designed to run in hybrid, public or private clouds, and multi-cloud environments in the United States and internationally. Elastic N.V. reported that its Total Revenue rose from over $1.06 billion for the 12 months period that ended on April 30, 2023, to over $1.26 billion for the 12 months period that ended on April 30, 2023, and that its Net Loss of $236.16 million for the 12 months period that ended on April 30, 2023, turned into a Net Income of $61.72 million for the 12 months period that ended on April 30, 2024.

On August 29, 2024, Elastic N.V. released its first quarter fiscal 2025 financial results and revised its annual revenue guidance to be between $1.436 billion and $1.444 billion, compared to a previous range of $1.468 billion and $1.48 billion and consensus estimates of $1.48 billion. The Company explained that the revision is due to "a slower start to the year with the volume of customer commitments impacted by segmentation changes that [the Company] made at the beginning of the year, which are taking longer than expected to settle."

Shares of Elastic N.V. (NYSE: ESTC) declined from $136.06 per share on February 29, 2024, to as low as $69.00 per share on September 09, 2024.

Those who purchased shares of Elastic N.V. (NYSE: ESTC) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About:
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.