Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, continues its investigation as to whether certain directors and officers of Everbridge, Inc. (“Everbridge”) (NASDAQ: EVBG) breached their fiduciary duties to Everbridge and its shareholders. If you are an Everbridge shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
Scott+Scott is investigating whether members of the Everbridge Board of Directors (the “Board”) made, or caused Everbridge to make, false and/or misleading statements, as well as failed to disclose material adverse facts, about Everbridge’s business, operations, prospects, and financial health. Specifically, Scott+Scott is investigating whether the Board failed to disclose material information, including whether Everbridge misled investors by: (a) failing to disclose that Everbridge was experiencing integration problems with respect to acquisitions; (b) using the revenues from acquisitions to mask increasingly stagnant organic growth; and (c) failing to disclose that the COVID pandemic was having a material impact on the size of the deals that Everbridge was able to obtain, with a negative effect on Everbridge’s revenue growth; and whether, as a result, statements about Everbridge’s business, operations, and prospects lacked a reasonable basis.
On December 9, 2021, Everbridge disclosed that David Meredith had unexpectedly resigned as Everbridge’s CEO. Everbridge also provided 2022 revenue growth guidance of between 20-23%, well below the expected baseline of 30%. On this news, Everbridge’s common stock price fell almost by half, a price decline of $52.37 per share, or 45.4 percent, to close at $63.00 per share on December 10, 2021.
On February 24, 2022, Everbridge announced its financial results for the fourth quarter and full year 2021, as well as its guidance for the first quarter and full year 2022. As to revenue, the Company guided only 20% growth in the first quarter of 2022 and 15-17% growth for the full year, lower than the guidance previously issued in December 2021. On this news, Everbridge’s common stock price fell $15.68 per share, or 33.9 percent, to close at $30.61 per share on February 25, 2022.
What You Can Do
If you are an Everbridge shareholder, you may have legal claims against Everbridge’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
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Contacts
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
600 W. Broadway, Suite 3300, San Diego, CA 92101
844-818-6982
jpettigrew@scott-scott.com
