Important Notice to Elastic N.V. (ESTC) Shareholders: The Gross Law Firm Announces Securities Class Action
NEW YORK, Feb. 26, 2025 – The Gross Law Firm, a leading national securities fraud law firm, announces that it has commenced a federal securities class action lawsuit against Elastic N.V. (ESTC) (“Elastic” or the “Company”) (NYSE: ESTC) on behalf of purchasers of the Company’s securities between March 3, 2021, and October 28, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Eastern District of New York and is captioned Gross v. Elastic N.V., Case No. 2:23-cv-01234.
Allegations Against Elastic
The complaint alleges that Elastic made materially false and misleading statements and failed to disclose material information during the Class Period. Specifically, the Company misrepresented and failed to disclose that:
- Elastic’s financial results were being negatively impacted by increased competition in the search and log analytics markets;
- The Company’s sales and marketing expenses were increasing due to increased competition;
- Elastic was experiencing declining customer renewal rates;
- Elastic’s cost of revenue was increasing due to increased data center infrastructure expenses;
- The Company’s guidance for the third quarter of 2022 was not achievable;
As a result of these misrepresentations and omissions, Elastic’s stock traded at artificially inflated prices during the Class Period. When the true details entered the market, the price of Elastic’s securities declined significantly, causing injury to investors.
Impact on Individual Investors
If you purchased or otherwise acquired Elastic securities during the Class Period, you may be entitled to recover your losses, including damages for any financial losses incurred as a result of your purchase of Elastic securities and the decline in value of your shares. You may also be entitled to recover damages for any additional losses, such as costs of brokerage commissions, fees, and expenses.
Impact on the World
The Elastic securities class action lawsuit is significant for several reasons. First, it highlights the importance of accurate and transparent financial reporting. Companies have a duty to provide truthful information to their investors, and failure to do so can result in serious consequences. Second, the lawsuit sends a strong message to companies operating in the technology sector that they will be held accountable for misrepresentations and omissions. Third, it underscores the importance of a strong securities class action system, which allows individual investors to band together and seek redress for their losses.
Conclusion
The Gross Law Firm encourages investors who purchased or otherwise acquired Elastic securities during the Class Period to contact the firm as soon as possible. You may be entitled to recover your losses. The Gross Law Firm represents investors worldwide and takes pride in securing the best possible outcomes for its clients. With extensive experience in securities fraud class actions, the firm is uniquely positioned to pursue the legal remedies available to investors.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact the Gross Law Firm as soon as possible at 888-222-0075, or by email at [email protected]. If you are a member of this class, you can view the complaint online at www.grosslawfirm.com/elastic-nv-estc-class-action-lawsuit.
About The Gross Law Firm
The Gross Law Firm is a leading national securities fraud law firm representing investors throughout the world in securities litigation and arbitration. The firm’s attorneys have recovered billions of dollars for investors and have represented thousands of clients in securities fraud, accounting fraud, and corporate governance cases.
