LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Yext, Inc. (“Yext” or the “Company”) (NYSE: YEXT) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On August 29, 2019, Yext announced that it would launch Yext Answers (“Answers”) with the mission of “Perfect Answers Everywhere.” The Company also provided fiscal 2020 guidance, including expected revenue of $299 million to $301 million. On October 29, 2019, Yext launched Answers.
On December 5, 2019, after the market closed, Yext reported its third quarter 2020 financial results and reduced its fiscal 2020 guidance, expecting revenue between $296.5 million and $298.5 million. The Company indicated that the launch of Answers during the third quarter “did delay our cycles.”
On this news, the Company’s stock price fell $2.34 per share, or over 14%, to close at $14.26 per share on December 6, 2019, thereby injuring investors.
If you purchased Yext 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 Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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