Elastic(ESTC) Prnewswire·2025-02-25 10:45Core Viewpoint - A class action securities lawsuit has been filed against Elastic N.V. alleging securities fraud that affected investors between May 31, 2024, and August 29, 2024 [1] Group 1: Allegations of Fraud - The lawsuit claims that Elastic made false statements and concealed significant changes to its sales operations, particularly affecting customer segments in the Americas [2] - It is alleged that these changes disrupted Elastic's sales operations during the first quarter of FY 2025, leading to an overstatement of the stability of its sales operations [2] - As a result of these issues, Elastic is unlikely to meet its previously issued revenue guidance for FY 2025, making the defendants' public statements materially false and misleading [2] Group 2: Legal Process and Participation - Investors who suffered losses in Elastic during the relevant timeframe have until April 14, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3] Group 3: Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the top securities litigation firms in the United States [4]