RADNOR, Pa., Sept. 05, 2024 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Elastic N.V. (NYSE: ESTC) (“Elastic”).
On August 29, 2024, after the market closed, Elastic announced its financial results for first quarter of fiscal 2025 ended July 31, 2024 and slashed its revenue guidance for the full year, a move that prompted a flurry of downgrades from market analysts. In addressing the company’s reduced outlook, Elastic’s CEO disclosed that Elastic “had a slower start to the year with the volume of customer commitments impacted by segmentation changes that we made at the beginning of the year, which are taking longer than expected to settle,” and that Elastic has “been taking steps to address this, but it will impact our revenue this year.”
Following this news, the price of Elastic shares plunged over 25%, from a close of $103.64 per share on August 29, 2024, to close at $76.19 per share on August 30, 2024.
If you are an Elastic investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or E-mail at info@ktmc.com. You can also click on the following link or paste it in your browser: https://www.ktmc.com/elastic-nv-investigation?utm_campaign=mei&mktm=r&utm_source=PR&utm_medium=link&utm_campaign=estc&mktm=r
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com
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