Faruqi & Faruqi, LLP, a prominent national securities law firm, is investigating potential claims against Extreme Networks, Inc. (EXTR) for alleged violations of federal securities laws. The firm is investigating whether Extreme Networks made false or misleading statements about its financial performance, specifically concerning the company’s backlog orders and revenue projections.
The investigation stems from allegations that Extreme Networks, between July 27, 2022, and January 30, 2024, misled investors about its true financial health. The complaint alleges that Extreme Networks’ executives painted a rosy picture of the company’s performance while failing to disclose significant challenges, such as declining client demand and an overreliance on backlog orders to maintain revenue.
The firm highlights several instances where Extreme Networks’ stock price dropped significantly following disclosures about the company’s actual financial situation. These disclosures revealed that the company’s backlog was shrinking, its revenue growth was slowing, and its financial performance was not as strong as previously represented.
Investors who suffered losses exceeding $100,000 in Extreme Networks during the relevant period are urged to contact Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). They can also visit www.faruqilaw.com/EXTR for more information.
Faruqi & Faruqi, LLP is a leading national securities law firm with offices in New York, Pennsylvania, California, and Georgia. They have recovered hundreds of millions of dollars for investors since their founding in 1995.
The firm encourages anyone with information about Extreme Networks’ conduct to contact them, including whistleblowers, former employees, shareholders, and others. This could be a critical step in seeking justice for investors who may have been harmed by alleged misrepresentations.
The investigation is ongoing and seeks to uncover the truth about Extreme Networks’ financial performance and whether investors were misled. Faruqi & Faruqi is committed to representing the interests of investors and holding companies accountable for their actions.
This press release should not be considered as legal advice. Investors should consult with their own legal counsel to determine their individual rights and options.
