Bronstein, Gewirtz & Grossman, LLC Announces Class Action Lawsuit Against Elastic N.V.
New York, NY – April 14, 2025
Bronstein, Gewirtz & Grossman, LLC, a leading national law firm, announces that a class action lawsuit has been filed against Elastic N.V. (“Elastic” or “the Company”) (NYSE:ESTC) and certain of its officers. The lawsuit, filed in the United States District Court for the Eastern District of New York, alleges that Elastic and its officers violated the Securities Exchange Act of 1934.
Allegations of Misstatements and Securities Fraud
The complaint alleges that Elastic and its officers made false and misleading statements and failed to disclose material information to investors regarding the Company’s business, operations, and financial condition. Specifically, the lawsuit alleges that Elastic misrepresented the growth prospects of its Open Search business and failed to disclose the negative impact of the COVID-19 pandemic on its sales and revenue.
Impact on Elastic’s Stock Price
Following the release of Elastic’s fourth-quarter 2024 financial results, which failed to meet analysts’ expectations, the Company’s stock price declined significantly. However, the complaint alleges that Elastic and its officers made false and misleading statements during the class period, which artificially inflated the Company’s stock price.
Class Members and Deadline to File
The class action lawsuit includes all persons or entities who purchased or otherwise acquired Elastic securities between February 23, 2021 and March 31, 2025, inclusive (the “Class Period”). Those wishing to become plaintiffs in the action must file a motion to serve as lead plaintiff no later than June 13, 2025.
Investors’ Rights and Next Steps
If you are a member of the class, you may, no later than June 13, 2025, request the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not need to seek appointment as a lead plaintiff to share in any monetary award or recovery that may be made.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact class counsel:
- Bronstein, Gewirtz & Grossman, LLC
- Peretz Bronstein or Sara Jobin
- 212-697-6484
- [email protected]
Effects on Individual Investors
If you purchased Elastic securities during the Class Period and believe that you have suffered a loss as a result of the alleged misstatements and securities fraud, you may be entitled to compensation. Investors should consult with their investment professionals or legal counsel for advice regarding their specific situation.
Effects on the World
The class action lawsuit against Elastic N.V. highlights the importance of transparency and accuracy in corporate disclosures. It also underscores the need for investors to be vigilant in monitoring their investments and seeking legal recourse when they believe they have been defrauded. The outcome of this lawsuit could set a precedent for future securities fraud cases and potentially influence investor behavior and corporate governance practices.
Conclusion
Bronstein, Gewirtz & Grossman, LLC’s announcement of a class action lawsuit against Elastic N.V. and certain of its officers represents a significant development for investors who purchased Elastic securities during the Class Period. The allegations of misstatements and securities fraud could potentially result in significant compensation for affected investors. Moreover, the lawsuit highlights the importance of transparency and accuracy in corporate disclosures and could influence investor behavior and corporate governance practices moving forward. If you believe you have been impacted by the alleged misconduct, it is recommended that you consult with your investment professionals or legal counsel for advice regarding your specific situation.
