LOS ANGELES, November 24, 2021– (BUSINESS WIRE) – Glancy Prongay & Murray LLP (“GPM”), a leading national law firm specializing in shareholder rights, announces that a class action lawsuit has been filed on behalf of investors who have purchased or otherwise acquired Citrix Systems, Inc. (“Citrix” or the “Company”) (NASDAQ: CTXS) common share between January 22, 2020 and October 6, 2021, inclusive (the âClass Periodâ). Citrix investors have up to January 18, 2022 file an application as the principal applicant.
If you have suffered a loss on your Citrix investments or would like to inquire about potential claims to recover your loss under federal securities laws, you can submit your contact information at www.glancylaw.com / cases / citrix-systems-inc /. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or by email at [email protected] to learn more about your rights.
On April 29, 2021, before the market opened, Citrix announced that customers had not moved from shorter-term on-premises licenses to long-term cloud accounts as planned. Instead, many customers have switched to another short-term on-site license, citing the COVID-19 pandemic.
At this news, Citrix stock fell $ 10.49, or 7.6%, to close at $ 128.02 per share on April 29, 2021, hurting investors.
Then, on July 29, 2021, Citrix reported that the transition to the cloud had not been as successful as the company had led investors to believe. Citric announced a major restructuring of its sales leadership, warning that the changes were “significant and could cause short-term disruption before showing any tangible results.”
At this news, Citrix stock fell $ 15.55, or 13.6%, to close at $ 99.00 per share on July 29, 2021, further hurting investors.
Then, on October 6, 2021, Citrix announced the resignation of its CEO.
At this news, Citrix stock fell $ 7.64, or 7.2% over the next two consecutive trading sessions to close at $ 98.32 per share on October 8, 2021, further hurting investors.
The complaint filed alleges that, throughout the Class Period, the Defendants made materially false and / or misleading representations regarding the business, operations and prospects of the Company. Specifically, the Defendants made false and / or misleading statements and / or failed to disclose that: (i) the cloud product was substantially similar to the on-premise offering; and (ii) that the Company faced significant challenges in moving its customers from on-premises to the cloud.
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If you have purchased or acquired common shares of Citrix during the Class Period, you can apply to Court no later than January 18, 2022 ask the Court to appoint you as the principal applicant. To be a member of the Class, you do not need to take any action at this time; you can retain the services of a lawyer of your choice or take no action and remain an absent member of the group. If you would like to know more about this action, or if you have any questions regarding this announcement or your rights or interests in any such matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, toll free at 888-773-9224, by email at [email protected], or visit our website at www.glancylaw.com. If you are applying by email, please include your mailing address, phone number and number of shares purchased.
This press release may be considered an attorney’s advertisement in certain jurisdictions under applicable law and ethical rules.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211123005484/en/
Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, California 90067