Extreme Networks, Inc. (NasdaqGS: EXTR)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF continues its investigation into Extreme Networks, Inc. (NasdaqGS: EXTR).

On January 31, 2024, the Company disclosed disappointing financial results and operational trends for 2Q24 including, among other things, that its revenues for the quarter were $296.4 million, down 7% year-over-year, and that it generated just $186.6 million in product revenue, a decline of 37% year-over-year.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws. Specifically, the case alleges that Defendants made false and misleading statements about Extreme’s product revenue and backlog between July 27, 2022 and January 30, 2024. Recently, the Court presiding over the case denied the Company’s motion to dismiss the case, allowing the case to move forward.

KSF’s investigation is focusing on whether Extreme’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Extreme shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.