GlobeNewswire Inc | Jan 26, 2022 10:18AM EST

January 26, 2022

NEW YORK, Jan. 26, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Everbridge, Inc. (Everbridge or the Company) (NASDAQ: EVBG). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Everbridge and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

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On December 9, 2021, Everbridge disclosed that on December 6, 2021, David Meredith, Everbridges Chief Executive Officer and a member of the Companys Board of Directors, informed the Company of his intention to resign from his roles at Everbridge effective January 30, 2022 and that on December 8, 2021, Everbridges Board of Directors accepted Mr. Merediths resignation.

On this news, Everbridges stock price fell $52.37 per share, or 45.39%, to close at $63.00 per share on December 10, 2021.

On January 24, 2022, asset management firm Baron Funds (Baron) published its Baron Discovery Fund fourth quarter 2021 investor letter. Barons investor letter discussed the firms decision to dispose of its Everbridge shares, noting, in relevant part, that [s]hares of Everbridge declined in the fourth quarter after the company announced the resignation of its CEO and guided for a slowdown in organic growth.

On this news, Everbridges stock price fell $3.69 per share, or 7.19%, to close at $47.60 per share on January 25, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, 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

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980