GlobeNewswire Inc | Jan 12, 2022 10:00PM EST

January 13, 2022

NEW ORLEANS, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (KSF) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 18, 2022 to file lead plaintiff applications in a securities class action lawsuit against Citrix Systems, Inc. (NasdaqGS: CTXS), if they purchased the Companys shares between January 22, 2020 and October 6, 2021, inclusive (the Class Period). This action is pending in the United States District Court for the Southern District of Florida.

What You May Do

If you purchased shares of Citrix and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-ctxs/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 18, 2022.

About the Lawsuit

Citrix and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On July 29, 2021, the Company disclosed that its transition to cloud-based services had not been as successful as the Company had led investors to believe, citing to the need to evolve our sales strategy to deliver more predictable results as well as a major restructuring of its sales leadership in order to enhance [its] focus on cloud migration.

On this news, shares of Citrix fell 13.6%, from $114.55 per share to $99.00 per share.

Then, on October 6, 2021, post-market, the Company disclosed that its President and Chief Executive Officer (CEO) had stepped down.

On this news, shares of Citrix fell 7.2% over the next two days, from $105.96 per share to $98.32 per share.

The case is City of Hollywood Police Officers Retirement System v. Citrix Systems, Inc., 21-cv-62380.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nations premier boutique securities litigation law firms. KSF serves a variety of clients including public institutional investors, hedge funds, money managers and retail investors in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLCLewis Kahn, Managing Partnerlewis.kahn@ksfcounsel.com1-877-515-18501100 Poydras St., Suite 3200New Orleans, LA 70163