NEW ORLEANS, La., Dec. 1, 2021 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors with losses in excess of $100,000 that they have until January 18, 2022 to file lead plaintiff applications in a securities class action lawsuit against Citrix Systems, Inc. (NasdaqGS: CTXS), if they purchased the Company's shares between January 22, 2020 and October 6, 2021, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of Florida.
Citrix investors should visit us at https://claimsfiler.com/cases/nasdaq-ctxs-2/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Citrix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 29, 2021, the Company disclosed that its transition to cloud-based services had not been as successful as the Company had led investors to believe, citing to "the need to evolve our sales strategy to deliver more predictable results" as well as a major restructuring of its sales leadership in order to "enhance [its] focus on" cloud migration.
On this news, shares of Citrix fell 13.6%, from $114.55 per share to $99.00 per share.
Then, on October 6, 2021, post-market, the Company disclosed that its President and Chief Executive Officer ("CEO") had stepped down.
On this news, shares of Citrix fell 7.2% over the next two days, from $105.96 per share to $98.32 per share.
The case is City of Hollywood Police Officers' Retirement System v. Citrix Systems, Inc., 21-cv-62380.
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