Fastly faces securities fraud lawsuit over allegedly misleading investors on customer acquisition and revenue growth in 2024.
Fastly, a cloud technology firm, is facing a securities fraud lawsuit alleging the company and its executives misled investors about new customer acquisition driving revenue growth in 2024. The lawsuit claims Fastly was experiencing a significant deceleration in growth among its largest customers and losing market share, which resulted in lowered revenue guidance by $35 million on May 1, 2024. The case seeks compensation for investors who purchased Fastly securities between February 15 and May 1, 2024.
May 28, 2024
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