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GTLB INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that GitLab Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
Globe Newswire 25-Sep-2024 4:04 PM
SAN DIEGO, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of GitLab Inc. (NASDAQ:GTLB) securities between June 6, 2023 and March 4, 2024, both dates inclusive (the "Class Period"), have until November 4, 2024 to seek appointment as lead plaintiff of the GitLab class action lawsuit. Captioned Dolly v. GitLab Inc., No. 24-cv-06244 (N.D. Cal.), the GitLab class action lawsuit charges GitLab and certain of GitLab's top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the GitLab class action lawsuit, please provide your information here:
CASE ALLEGATIONS: GitLab is a global software company that designs and develops software solutions.
The GitLab class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants created the false impression that they possessed reliable information pertaining to GitLab's ability to develop and incorporate AI throughout the software development cycle to optimize code generation thereby increasing market demand and making all levels of software development more affordable and properly monetizing GitLab's AI features; and (ii) there was weak market demand for GitLab's touted AI features and GitLab was incurring an increasing amount of expenses involving JiHu, its joint venture in China, as well as the annual company-wide summit.
The GitLab class action lawsuit further alleges that on March 4, 2024, GitLab disclosed lower than expected full-year guidance for 2025, attributing the guidance to time needed to "build pipeline and close deals on new products." On this news, the price of GitLab stock fell nearly 21%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired GitLab securities during the Class Period to seek appointment as lead plaintiff in the GitLab class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the GitLab class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the GitLab class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the GitLab class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
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Contact: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 info@rgrdlaw.com
