EXTR Investors Have Opportunity to Lead Extreme Networks, Inc. Securities Fraud Lawsuit

BENSALEM, Pa., Aug. 27, 2024 /PRNewswire/ — Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Extreme Networks, Inc. (“Extreme Networks” or the “Company”) EXTR.

Class Period: July 27, 2022 – January 30, 2024

Lead Plaintiff Deadline: October 15, 2024

Investors suffering losses on their Extreme Networks investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 215-638-4847 or by email to howardsmith@howardsmithlaw.com.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) that the Company was suffering from adverse client demand trends as its clients had ordered more product from the Company than needed in the wake of the COVID-19 pandemic to avoid supply shortages and because of a lack of alternative sourcing options and thereby had cannibalized their Class Period purchasing needs; (2) that the Company was increasingly offsetting these adverse organic demand trends with the fulfillment of backlog orders in a manner that materially exceeded the proportion represented to investors; (3) that, as a result, the Company was drawing down its backlog at a much faster rate than represented to investors; (4) that, as a result, the Company’s backlog was already decreasing and at a much quicker pace than defendants’ statements to investors that backlog would only “begin to shrink” in 4Q23 and it would be not until “fiscal ’26 when it really goes back to normal”; (5) that, as a result, the Company’s backlog was not on track to continue increasing to $600 million; and (6) that, as a result, defendants had materially misrepresented the Company’s organic demand, revenue growth, and market share gains as the fulfillment of the Company’s backlog masked a decline in organic demand and attendant revenues; and (7) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

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