| COMPANY |
Extreme Networks, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
24-cv-05102 |
| JUDGE |
The Honorable Trina Lynn Thompson |
| CLASS PERIOD |
July 27, 2022 through January 30, 2024 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action on behalf of persons or entities who purchased or otherwise acquired Extreme Networks, Inc. securities from June 27, 2022 through January 30, 2024, inclusive (the “Class Period”).
The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that, among other things, Extreme Networks was suffering from adverse client demand trends as its clients had ordered more product from Extreme Networks than needed in the wake of the COVID-19 pandemic and that Extreme Networks was increasingly offsetting these adverse organic demand trends with the fulfillment of backlog orders in a manner that materially exceeded the proportion represented to investors. The Action further alleges that on January 25, 2023, Extreme Networks announced the resignation of defendant Rémi Thomas, Extreme Networks' CFO, and also revealed that compared to the first quarter of 2023, Extreme Networks' backlog had fallen to $542 million, its Product Book to Bill Ratio had fallen from 1.3x to 0.9x, and its Service Book to Bill Ratio had fallen from 1.4x to 1.2x. On this news, Extreme Networks' share price declined by nearly 15%, according to the complaint.
Current Status of Case:
On August 15, 2025, the Court entered The Order granting Defendants’ Motion to Dismiss the Amended Complaint and allowed Plaintiffs until September 9, 2025 to file a Second Amended Complaint. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.