We are investigating 8x8, Inc. (EGHT) (“8x8” or the “Company”) for potential violations of the federal securities laws.
On July 31, 2019, B. Riley downgraded 8x8 from “Neutral” to “Sell,” stating that 8x8’s July 30, 2019 earnings report “appeared to pass muster at first glance” but that “dissecting the company’s guidance and cash flow statement left us with a number of concerns,” including cash burn and deferred sales commission costs. On this news, 8x8’s stock price fell sharply during intraday trading on July 31, 2019.