Everything You Need to Know about the Yext, Inc. Class Action Lawsuit

8/12/2022

The Yext class action lawsuit seeks to represent purchasers or acquirers of Yext, Inc. (NYSE: YEXT) securities between March 4, 2021 and March 8, 2022, inclusive (the “Class Period”). The Yext class action lawsuit – captioned Menzione v. Yext, Inc., No. 22-cv-05127 (S.D.N.Y.) – charges Yext and certain of its top executive officers with violations of the Securities Exchange Act of 1934.

If you suffered losses in Yext stock and wish to serve as lead plaintiff of the Yext class action lawsuit, please provide your information below. You can also contact Yext Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at tmiles@timmileslaw.com. Lead plaintiff motions for the Yext class action lawsuit must be filed with the court no later than August 16, 2022.

Allegations in the Yext Class Action Lawsuit

Yext operates Yext platform, a cloud-based platform that allows its customers to, among other things, provide answers to consumer questions, control facts about their businesses and the content of their landing pages, and manage their consumer reviews. As COVID-19 resurged throughout 2021, Yext consistently assured investors that pandemic-related impacts on Yext’s business were limited as Yext adapted to lockdowns and improved efficiencies in its sales and other operations.

The Yext class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose 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, Yext’s public statements were materially false and misleading at all relevant times.

On March 8, 2022, Yext reported fourth quarter of fiscal 2022 revenue of $100.9 million, falling short of consensus estimates by $140,000; first quarter of fiscal 2023 revenue outlook of $96.3 million to $97.3 million, versus consensus estimates of $103.79 million; first quarter of fiscal 2023 non-Generally Accepted Accounting Principles (“GAAP”) net loss per share outlook of $0.08 to $0.07, versus consensus estimates of $0.05; full year fiscal 2023 revenue outlook of $403.3 million to $407.3 million, versus consensus estimates of $444.71 million; and full year fiscal 2023 non-GAAP net loss per share outlook of $0.19 to $0.17, versus consensus estimates of $0.09. Yext further disclosed the departure of its CEO and CFO. On this news, Yext’s stock price fell more than 9%, damaging investors who suffered losses in Yext stock. If you have further questions about the Yext class action lawsuit, please contact Yext Stock Loss Lawyer Timothy L. Miles today.

The Lead Plaintiff Process in the Yext Lawsuit

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Yext stock to seek appointment as lead plaintiff in the Yext class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Yext stock, and have further questions, or would like to seek to be lead plaintiff, contact Yext Stock Loss Lawyer Timothy L. Miles today.

Contact an Yext Stock Loss Lawyer if You Suffered Losses in Yext Stock About a Yext lawsuit

If you suffered losses in Yext stock, contact Yext Stock Loss Lawyer Timothy L. Miles today about an Yext class action lawsuit, and see what a Yext Stock Loss Lawyer can do for you. The call is free and so is the fee unless we win your case, so call a Yext Stock Loss Lawyer today.

Timothy L. Miles, Esq.

T imothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, and more.

Categories