The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Citrix Systems, Inc. (NASDAQ: CTXS) who purchased shares between January 22, 2020 and October 6, 2021. The action, which was filed in the United States District Court for the Southern District of Florida, alleges that the Company violated federal securities laws.
In particular, the Citrix lawsuit alleges that the transition from on-premise to the cloud product was going smoothly. In addition, in response to the COVID-19 pandemic and the shift to remote work, Citrix created a shorter duration, on-premise subscription license (the “Business Continuity Licenses”) that the Company offered at a discounted rate, and which Defendants claimed would transition to cloud accounts after the one-year license expired. As a result of Defendants’ misrepresentations, Citrix common stock traded at artificially inflated prices during the Class Period.
Shareholders have until January 18, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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