BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Elastic N.V. (“Elastic” or the “Company”) (NYSE: ESTC) investors concerning the Company and its officers’ possible violations of federal securities laws.
On December 4, 2019, after the market closed, Elastic announced its second quarter 2020 financial results, reporting soft billings growth of 41% year-over-year, compared to 51% year-over-year growth reported the previous quarter. Elastic’s officers explained that the Company experienced “some delays in [its] federal government business, as some deals moved out of the month of October” and that the magnitude of the deals “was significant enough that it impacted billings.”
On this news, the Company’s stock price fell $13.98 per share, or nearly 19%, to close at $64.22 per share on December 5, 2019, thereby injuring investors.
If you purchased Elastic securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.