LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Everbridge, Inc. (“Everbridge” or “the Company”) ( NASDAQ: EVBG) for violating securities laws.
The investigation aims to determine whether the Company has made false and/or misleading statements and/or has failed to disclose relevant information to investors. Everbridge disclosed on December 9, 2021 that on December 6, 2021, CEO David Meredith advised the Company that he would be resigning effective January 30, 2022, resignation accepted by the Company on December 8, 2021. Upon this news, shares of Everbridge drops more than 45%. Then, on January 24, 2022, Baron Funds published its “Baron Discovery Fund” letter to investors for the fourth quarter. The letter says Baron Funds was selling its shares in Everbridge, noting, “Everbridge shares declined in the fourth quarter after the company announced the resignation of its CEO and headed for slower organic growth.” Based on this news, Everbridge shares fell more than 7%.
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