NEW YORK , Aug. 18, 2024 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Extreme Networks, Inc. ("Extreme Networks" or "the Company") (NASDAQ: EXTR) and certain of its officers.
Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Extreme Networks securities between July 27, 2022 , and January 30, 2024 , inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/EXTR .
Case Details The Complaint alleges that throughout the class period, Defendants made false and misleading statements to the market. Specifically, the Complaint alleges that: (1) Extreme Networks suffered from weak client demand trends due to customers ordering more product than necessary in the wake of the COVID-19 pandemic; (2) the Company attempted to offset the negative organic demand trends with backlog orders exceeding the proportion it represented to investors; (3) based on these facts, the Company's public statements were false and materially misleading throughout the class period; and (4) when the market learned the truth about Extreme Networks, investors suffered damages. What's Next? A class action lawsuit has already been filed.
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