The Law Offices of Frank R. Cruz announces an investigation of Citrix Systems, Inc. (“Citrix” or the “Company”) (NASDAQ: CTXS) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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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.
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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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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The Law Offices of Frank R. Cruz Announces Investigation of Citrix Systems, Inc. (CTXS) on Behalf of Investors