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LOS ANGELES, Sept. 01, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Fastly, Inc. ("Fastly" or "the Company") (NYSE: FSLY) investors that acquired securities between May 6, 2020 and August 5, 2020.
Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.
The complaint alleges that the defendants made misleading and/or false statements and/or failed to disclose: (1) that ByteDance, operator of TikTok, was Fastly's largest customer, which was already understood to have serious security risks and was already under intense scrutiny by U.S. government officials; (2) that there was a material risk that Fastly's business would be negatively impacted if any adverse actions were taken by the U.S. government against TikTok or ByteDance; (3) and that as a result, the positive statements made by the defendants' about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details became known to the market, it is alleged that investors suffered damages.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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