Investors Are Encouraged To Join A Case Against Extreme Networks Inc For Securities Related Infractions
The Schall Law Firm has announced a class action lawsuit against Extreme Networks, Inc. (NASDAQ:EXTR) for alleged violations of securities laws. The lawsuit covers investors who purchased the company's securities between July 27, 2022 and January 30, 2024. The firm encourages affected shareholders to contact them before October 15, 2024.
The complaint alleges that Extreme Networks made false and misleading statements to the market. Specifically, it claims the company faced weak client demand due to over-ordering during the COVID-19 pandemic and attempted to offset this by misrepresenting backlog orders. The lawsuit asserts that these actions led to materially false public statements throughout the class period, resulting in investor damages when the truth was revealed.
Lo studio legale Schall ha annunciato una causa collettiva contro Extreme Networks, Inc. (NASDAQ:EXTR) per presunti violazioni delle leggi sui titoli. La causa riguarda gli investitori che hanno acquistato titoli della società tra il 27 luglio 2022 e il 30 gennaio 2024. Lo studio incoraggia gli azionisti interessati a contattarli prima del 15 ottobre 2024.
Il reclamo sostiene che Extreme Networks ha fatto dichiarazioni false e ingannevoli al mercato. In particolare, afferma che l'azienda ha affrontato una domanda debole da parte dei clienti a causa di ordini eccessivi durante la pandemia di COVID-19 e ha tentato di compensare ciò travisando gli ordini di arretrati. La causa afferma che queste azioni hanno portato a dichiarazioni pubbliche materialmente false durante il periodo di riferimento, causando danni agli investitori quando è stata rivelata la verità.
El bufete de abogados Schall ha anunciado una demanda colectiva contra Extreme Networks, Inc. (NASDAQ:EXTR) por presuntas violaciones de las leyes de valores. La demanda cubre a los inversores que compraron valores de la compañía entre el 27 de julio de 2022 y el 30 de enero de 2024. El bufete anima a los accionistas afectados a contactarlos antes del 15 de octubre de 2024.
La denuncia alega que Extreme Networks hizo declaraciones falsas y engañosas al mercado. En concreto, afirma que la compañía enfrentó una débil demanda de clientes debido a pedidos excesivos durante la pandemia de COVID-19 e intentó compensar esto representando incorrectamente los pedidos pendientes. La demanda sostiene que estas acciones llevaron a declaraciones públicas materialmente falsas a lo largo del período de la clase, resultando en daños a los inversores cuando se reveló la verdad.
샬 로펌은 Extreme Networks, Inc. (NASDAQ:EXTR)에 대한 집단 소송을 발표했습니다. 이는 증권법 위반 혐의로, 2022년 7월 27일과 2024년 1월 30일 사이에 회사의 증권을 구매한 투자자를 대상으로 합니다. 해당 로펌은 영향을 받은 주주들이 2024년 10월 15일 이전에 연락할 것을 권장합니다.
소송은 Extreme Networks가 시장에 대해 허위 및 오해의 소지가 있는 진술을 했다고 주장합니다. 구체적으로, 회사는 COVID-19 팬데믹 동안 과도한 주문으로 인해 고객 수요가 약화되었고, 이를 만회하기 위해 체계적인 주문을 왜곡했다고 주장하고 있습니다. 소송은 이러한 행동이 집단 기간 동안 물질적으로 허위인 공적 진술로 이어졌으며, 진실이 밝혀졌을 때 투자자에게 손해를 초래했다고 주장합니다.
Le cabinet d'avocats Schall a annoncé un recours collectif contre Extreme Networks, Inc. (NASDAQ:EXTR) pour des violations alléguées des lois sur les valeurs mobilières. Le recours concerne les investisseurs ayant acheté des valeurs de l'entreprise entre le 27 juillet 2022 et le 30 janvier 2024. Le cabinet encourage les actionnaires concernés à les contacter avant le 15 octobre 2024.
La plainte alléguée qu'Extreme Networks a fait des décisions fausses et trompeuses envers le marché. En particulier, elle affirme que la société a été confrontée à une faible demande de clients en raison d'une surcommande pendant la pandémie de COVID-19 et a tenté de compenser cela en déformant les commandes en attente. La plainte soutient que ces actions ont conduit à des déclarations publiques matériellement fausses tout au long de la période de classe, entraînant des dommages pour les investisseurs lorsque la vérité a été révélée.
Die Schall Kanzlei hat eine Sammelklage gegen Extreme Networks, Inc. (NASDAQ:EXTR) wegen angeblicher Verstöße gegen das Wertpapierrecht angekündigt. Die Klage betrifft Investoren, die zwischen dem 27. Juli 2022 und dem 30. Januar 2024 Wertpapiere des Unternehmens erworben haben. Die Kanzlei fordert betroffene Aktionäre auf, sich vor dem 15. Oktober 2024 mit ihnen in Verbindung zu setzen.
Die Klage behauptet, dass Extreme Networks falsche und irreführende Aussagen an den Markt gemacht hat. Konkret wird behauptet, das Unternehmen habe aufgrund von Überbestellungen während der COVID-19-Pandemie eine schwache Kundennachfrage gehabt und habe versucht, dies zu kompensieren, indem es die Bestellungen im Rückstand falsch darstellte. Die Klage behauptet, dass diese Maßnahmen zu materiell falschen öffentlichen Aussagen während des Klassenzeitraums führten, was zu Schäden bei den Investoren führte, als die Wahrheit ans Licht kam.
- None.
- Class action lawsuit filed against Extreme Networks for alleged securities law violations
- Accusations of false and misleading statements to the market
- Alleged weak client demand trends and misrepresentation of backlog orders
- Potential financial liability and reputational damage for the company
Insights
This class action lawsuit against Extreme Networks is significant for investors. The allegations of false and misleading statements regarding customer demand and backlog orders could have substantial financial implications. Key points:
- The lawsuit covers a lengthy period from July 2022 to January 2024
- Claims of violations of securities laws, including Rule 10b-5
- Allegations that the company misrepresented demand trends and backlog orders
- Potential for financial damages to affected shareholders
While the class hasn't been certified yet, this lawsuit poses reputational and financial risks for Extreme Networks. Investors should closely monitor developments, as the outcome could impact the company's stock price and financial position. The October 15, 2024 deadline for joining the lawsuit is important for affected shareholders to consider.
This legal action raises concerns about Extreme Networks' financial reporting and demand forecasting practices. If the allegations are proven, it could indicate:
- Overstatement of market demand and potential revenue
- Inflated backlog figures that may not translate to actual sales
- Possible need for financial restatements or adjustments
Investors should scrutinize Extreme Networks' recent financial reports, particularly revenue recognition policies and backlog disclosures. The lawsuit's outcome could lead to financial penalties, increased regulatory scrutiny and a loss of investor confidence. With a market cap of
LOS ANGELES, CA / ACCESSWIRE / September 23, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Extreme Networks, Inc. ("Extreme Networks" or "the Company") (NASDAQ:EXTR) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between July 27, 2022 and January 30, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before October 15, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Extreme Networks suffered from weak client demand trends due to customers ordering more product than necessary in the wake of the COVID-19 pandemic. The Company attempted to offset the negative organic demand trends with backlog orders exceeding the proportion it represented to investors. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Extreme Networks, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
SOURCE: The Schall Law Firm
View the original press release on accesswire.com
FAQ
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