Settlement Reached for $85 Million with Everbridge, Inc.

Labaton Keller Sucharow LLP serves as court-appointed Lead Counsel in a securities class action pending in the U.S. District Court for the Central District of California against Everbridge, Inc. (Everbridge or the Company) and certain of its executives (collectively, Defendants).

The action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder.  As alleged in the complaint, from February 18, 2020 through February 24, 2022, inclusive (the Class Period), Defendants allegedly misled investors about the Company's acquisitions—most notably xMatters, an IT service platform.  Specifically, the complaint alleges that Defendants made false or misleading statements about the progress of Everbridge’s integration of its acquisitions and xMatters’ contribution to revenue in 2021.

On March 18, 2024, the District Court issued an order granting Defendants’ motion to dismiss the complaint.  Lead Plaintiffs appealed the dismissal to the Ninth Circuit Court of Appeals (the Ninth Circuit).  On July 15, 2025, the Ninth Circuit issued its decision, reversing and remanding, in part, the District Court’s order. Once remanded, the Parties engaged in discovery and further proceedings, including Lead Plaintiffs’ Motion for Class Certification.

The Parties reached an agreement to settle the matter for $85,000,000 (pending court approval) in July 2026, and executed the Stipulation and Agreement of Settlement on August 10, 2026.  On August 25, 2026, the Court issued an order preliminarily approving the proposed Settlement.

The case is Sylebra Capital Partners Master Fund LTD et al. v. Everbridge, Inc. et al., No. 2:22-cv-02249-FWS-RAO (C.D. Cal.).  Labaton Keller Sucharow represents Sylebra Capital Partners Master Fund Ltd., Sylebra Capital Parc Master Fund, and Sylebra Capital Menlo Master Fund.

Submit Claim Form

If you purchased or otherwise acquired the publicly traded common stock of Everbridge, Inc. during the period from February 18, 2020 through February 24, 2022, both dates inclusive, and were allegedly damaged thereby, you may be entitled to a payment from the class action Settlement.  To be eligible for a payment, you must submit a Claim Form to the Claims Administrator no later than November 25, 2026. Please read the linked Notice for all your options and deadlines.

Settlement Hearing

The Court will hold the final Settlement Hearing on December 17, 2026, at 10:00 a.m. (PT) at the United States District Court for the Central District of California, Ronald Reagan Federal Building and United States Courthouse, Courtroom 10D, 10th Floor, 411 W. 4th St, Santa Ana, CA 92701.

If you have questions about the Settlement, please contact Labaton Keller Sucharow at settlementquestions@labaton.com; (888) 219-6877; or contact the Claims Administrator at (888) 808-1850.  Additional information about the Settlement can be found at www.EverbridgeSecuritiesSettlement.com.