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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 18, 2022 to file lead plaintiff applications in a securities class action lawsuit against Citrix Systems, Inc. (NasdaqGS: CTXS).
Citrix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 29, 2021, the Company disclosed that its transition to cloud-based services had not been as successful as the Company had led investors to believe, citing to “the need to evolve our sales strategy to deliver more predictable results” as well as a major restructuring of its sales leadership in order to “enhance [its] focus on” cloud migration.
On this news, shares of Citrix fell 13.6%, from $114.55 per share to $99.00 per share.
Then, on October 6, 2021, post-market, the Company disclosed that its President and Chief Executive Officer (“CEO”) had stepped down.
On this news, shares of Citrix fell 7.2% over the next two days, from $105.96 per share to $98.32 per share.
If you purchased shares of Citrix and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 18, 2022.
The case is City of Hollywood Police Officers’ Retirement System v. Citrix Systems, Inc., 21-cv-62380.
Click here to read the first filed complaint.