In re FASTLY, INC. SECURITIES LITIGATION

I. BACKGROUND

20 This is a putative class action involving allegations of securities fraud. Defendant 21 Fastly, Inc. (“Fastly”) is an “edge” cloud platform that enables companies to deliver digital 22 content to users from Fastly’s servers rather than their own. Compl. ¶ 2. Traditionally, 23 websites and digital applications rely on one centralized server to process data for users 24 all over the world, resulting in lag times and poor user experiences. Dkt. 70-6 at 4. 25 Fastly solves this problem by locating data centers close to end users (the “edge”), which 26 increases internet speed, security, and reliability of digital content for a better user 27 experience. Compl. ¶ 2; Dkt. 70-6 at 5. Defendant Joshua Bixby is Fastly’s CEO. Defendant Adriel Lares was Fastly’s CFO during the putative class period. Plaintiff Andrew Zenoff was appointed lead plaintiff by the court on February 10, 2021, replacing the originally named plaintiff, Marcos Betancourt. Dkt. 61. He earlier presented evidence that he lost $105,848 due to defendants’ alleged misconduct. Dkt. 42 at 6. A. About Fastly’s Business Fastly earns revenue based on how much…