NEW ORLEANS, Aug. 20, 2024 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 15, 2024 to file lead plaintiff applications in a securities class action lawsuit against Extreme Networks, Inc. (NasdaqGS: EXTR), if they purchased the Company’s shares between July 27, 2022 and January 30, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Extreme Networks and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-extr/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 15, 2024.
About the Lawsuit
Extreme Networks and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 31, 2024, the Company disclosed disappointing financial results and operational trends for 2Q24 including, among other things, that its revenues for the quarter were $296.4 million, down 7% year-over-year, and that it had generated just $186.6 million in product revenue, a decline of 37% year-over-year.
On this news, the price of Extreme Networks’ shares fell from $16.64 per share when the market closed on January 30, 2024 to $12.59 per share on February 2, 2024, a 24% decline over three trading days on unusually heavy volume
The case is Steamfitters Local 449 Pension & Retirement Security Funds v. Extreme Networks, Inc., No. 24-cv-05102.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
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