NEW YORK, July 07, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Elastic N.V. (“Elastic” or the “Company”) (NYSE: ESTC). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Elastic and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 24, 2026, Elastic disclosed in a filing with the U.S. Securities and Exchange Commission (“SEC”) that, in connection with “a plan . . . intended to simplify team structures, reduce organizational complexity, improve decision-making speed, reallocate resources towards key growth areas, and invest in the skills and capabilities needed to support the Company's ongoing growth”, Elastic “expects to reduce its workforce by approximately 7%.” The Company said that it “expects to incur total non-recurring cash charges of approximately $22 million to $25 million under the plan, which will primarily consist of employee-related costs, including severance and other termination benefits.” In the same press release, Elastic disclosed that “Ken Exner, the Company’s Chief Product Officer, notified the Company of his decision to resign from his position as Chief Product Officer”, effective July 17, 2026.
On this news, Elastic’s stock price fell $5.11 per share, or 8.7%, to close at $53.60 per share on June 25, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
