Deadline Approaching: Elastic N.V. (ESTC) Investors Who Lost Money Urged To Contact Law Offices of Howard G. Smith

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming April 14, 2025 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Elastic N.V. (“Elastic” or the “Company”) (NYSE: ESTC) securities between May 31, 2024 and August 29, 2024, inclusive (the “Class Period”).

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN ELASTIC N.V. (ESTC), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at [e-mail], by telephone at [phone] or visit our website at www.howardsmithlaw.com.

What Happened?

On August 29, 2024, after market hours, Elastic released its first quarter fiscal 2025 financial results and revised its annual revenue guidance to be between $1.436 billion and $1.444 billion, compared to a previous range of $1.468 billion and $1.48 billion and consensus estimates of $1.48 billion. The Company explained that the revision was due to “a slower start to the year with the volume of customer commitments impacted by segmentation changes that [the Company] made at the beginning of the year, which are taking longer than expected to settle.”

On this news, Elastic’s stock price fell $27.45, or 26.5%, to close at $76.19 per share on August 30, 2024, thereby injuring investors.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Elastic had implemented significant changes to its sales operations, particularly with respect to its customer segments in the Americas; (2) the foregoing changes were likely to, and did, disrupt Elastic’s sales operations during the first quarter of its FY 2025; (3) accordingly, Defendants had overstated the stability of Elastic’s sales operations; (4) as a result of all the foregoing, Elastic was unlikely to meet its own previously issued revenue guidance for its FY 2025; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Elastic securities during the Class Period, you may move the Court no later than April 14, 2025 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements.

Contact Us To Participate or Learn More:

If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Law Offices of Howard G. Smith
3070 Bristol Pike, Suite 112
Bensalem, Pennsylvania 19020
Telephone: [phone]
Email: [e-mail]
Visit our website at: www.howardsmithlaw.com.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

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