The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Yext, Inc. (NYSE: YEXT) who purchased shares between March 4, 2021 and March 8, 2022. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Yext lawsuit alleges 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, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until August 16, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.