The Law Offices of Frank R. Cruz Announces Investigation of Atlassian Corporation (TEAM) on Behalf of Investors

Shareholders with $100,000 losses or more are encouraged to contact the firm.

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Atlassian Corporation (“Atlassian” or the “Company”) (NASDAQ: TEAM) on behalf of investors concerning the Company’s possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

On November 3, 2022, Atlassian disclosed that “[b]ased on the macro headwinds,” the Company was “lowering [its] Cloud revenue growth outlook to a range of approximately 40% to 45% year-over-year” for fiscal year 2023. The Company further explained that it had seen a “decrease in the rate of Free instances converting to paid plans” and that it had experienced a “slowing in the rate of paid user growth from existing customers.”

On this news, Atlassian’s stock price fell $50.44, or 29%, to close at $123.73 per share on November 4, 2022, thereby injuring investors.

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If you purchased Atlassian 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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