Lawsuit filed for Investors who lost money with shares of Elastic N.V. (NYSE: ESTC)

An investor, who purchased shares of Elastic N.V. (NYSE: ESTC), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Elastic N.V. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Elastic N.V. (NYSE: ESTC) have certain options and for certain investors are short and strict deadlines running. Deadline: April 14, 2025. NYSE: ESTC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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.

The plaintiff claims that between May 31, 2024 and August 29, 2024, the Defendants made false and/or misleading statements and/or failed to disclose that Elastic had implemented significant changes to its sales operations, particularly with respect to its customer segments in the Americas, that the foregoing changes were likely to, and did, disrupt Elastic's sales operations during the first quarter of its FY 2025, that accordingly, Defendants had overstated the stability of Elastic's sales operations, that as a result of all the foregoing, Elastic was unlikely to meet its own previously issued revenue guidance for its FY 2025, and that as a result, Defendants' public statements were materially false and misleading at all relevant times.

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 Shareholders Foundation, Inc.
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.