INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Citrix Systems, Inc. (CTXS) on Behalf of Investors
BENSALEM, Pa.--(BUSINESS WIRE)--Nov 22, 2021--
Law Offices of Howard G. Smith announces an investigation on behalf of Citrix Systems, Inc. (“Citrix” or the “Company”) (NASDAQ: CTXS ) investors concerning the Company’s possible violations of federal securities laws.
On April 29, 2021, before the market opened, Citrix announced that customers did not transition from shorter-duration, on-premise licenses to long-term cloud accounts as expected. Instead, many customers moved on to another short-term on-premise license, citing the COVID-19 pandemic.
On this news, Citrix’s stock fell $10.49, or 7.6%, to close at $128.02 per share on April 29, 2021, thereby injuring investors.
Then, on July 29, 2021, Citrix reported that the transition to cloud was not as successful as the Company had led investors to believe. Citrix announced a major restructuring of its sales leadership, warning that the changes were “significant and may cause short-term disruption before yielding tangible results.”
On this news, Citrix’s stock fell $15.55, or 13.6%, to close at $99.00 per share on July 29, 2021, injuring investors further.
Then, On October 6, 2021, Citrix announced that its President and CEO had resigned.
On 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, thereby injuring investors further.
If you purchased Citrix securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, 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, toll-free at (888) 638-4847, or by email to email@example.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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211122006630/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA PENNSYLVANIA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2021.
PUB: 11/22/2021 04:16 PM/DISC: 11/22/2021 04:16 PM