Fastly Inc. investors have adequately alleged securities fraud claims over one statement by the cloud platform company that its growth wasn’t slowing, a federal court ruled.
The investors showed the falsity of other statements and the company’s level of intent, but didn’t adequately connect later “revelations” to the fiscal quarters discussed in those statements, Judge Jon Tigar said Wednesday for the US District Court for the Northern District of California. The plaintiffs will be able to re-plead their claims in the proposed class action, he said.
The investors alleged San Francisco-based Fastly touted its progress following a strong 2023, amid ...
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