Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Yext, Inc. (“Yext” or the “Company”) (NYSE: YEXT) resulting from allegations that Yext might have issued misleading information to the investing public.
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New York, New York — Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Yext, Inc. (“Yext” or the “Company”) (NYSE: YEXT) resulting from allegations that Yext might have issued misleading information to the investing public.
On August 29, 2019, Yext reported Second Quarter Fiscal 2020 results for the three months ending July 31, 2019. The Company announced that it would be launching Yext Answers (“Answers”) with the mission of “Perfect Answers Everywhere.”
On December 5, 2019, after the market closed, Yext reported its Third Quarter Fiscal 2020 results, which included lower projected revenue for the Full Year Fiscal 2020 in the range of $296.5 million to $298.5 million. The Company revealed to shareholders that the launch of Answers during the third quarter, “did delay our deal cycles.”
Following the news, Yext’s common stock fell about $2.34 per share, more than 14%, to close at $14.26 per share on December 6, 2019.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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