An investigation on behalf of investors of New Relic, Inc. (NYSE: EWR) shares over potential securities laws violations by New Relic, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of New Relic, Inc. (NYSE: EWR) concerning whether a series of statements by New Relic, Inc. (NYSE: EWR regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Francisco, CA based New Relic, Inc., a software-as-a-service company, provides various digital products worldwide. New Relic, Inc. reported that its Total Revenue rose from $355.05 million for the 12 months period that ended on March 31, 2018 to $479.22 million for the 12 months period that ended on March 31, 2019 and that its Net Loss declined from $45.32 million to $40.89 million over those time periods. On August 6, 2019, New Relic, Inc released its first quarter 2020 financial results, reporting GAAP loss from operations of $16.9 million, compared to $3.6 million for the first quarter of fiscal 2019.