INVESTOR NOTICE: Investors in Yext, Inc. with Substantial Losses Have Opportunity to Lead Class Acti…
Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Yext, Inc. (NYSE: YEXT) securities between March 4, 2021 and March 8, 2022, inclusive (the “Class Period”) have until August 16, 2022 to seek appointment as lead plaintiff in Menzione v. Yext, Inc., No. 22-cv-05127 (S.D.N.Y.). The Yext class action lawsuit charges Yext as well as certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff, please provide your information here:
You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].
CASE ALLEGATIONS: Yext operates Yext platform, a cloud-based platform that allows its customers to, among other things, provide answers to consumer questions, control facts about their businesses and the content of their landing pages, and manage their consumer reviews. As COVID-19 resurged throughout 2021, Yext consistently assured investors that pandemic-related impacts on Yext’s business were limited as Yext adapted to lockdowns and improved efficiencies in its sales and other operations.
The Yext class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Yext’s revenue and earnings were significantly deteriorating because of, among other things, poor sales execution and performance, as well as COVID-19 related disruptions; (ii) accordingly, Yext was unlikely to meet consensus estimates for its full year fiscal 2022 financial results and fiscal 2023 outlook; and (iii) as a result, Yext’s public statements were materially false and misleading at all relevant times.
On March 8, 2022, Yext reported fourth quarter of fiscal 2022 revenue of $100.9 million, falling short of consensus estimates by $140,000; first quarter of fiscal 2023 revenue…