SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against GitLab Inc. - GTLB

PRNewswire 3-Oct-2024 10:45 AM

NEW YORK, Oct. 3, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against GitLab Inc. ("GitLab" or the "Company") (NASDAQ:GTLB). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether GitLab and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until November 4, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired GitLab securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action]

On March 4, 2024, GitLab issued a press release in which the Company lowered full-year guidance for fiscal year 2025. Among other items, GitLab said that it anticipated a first-quarter 2025 non-GAAP operating loss of $12 million to $13 million and non-GAAP operating revenue of only $5 million to $10 million for the full year. In relevant part, the Company stated that it needed time to build its pipeline and close deals on new products. 

On this news, GitLab's stock price fell $15.63 per share, or 20.99%, to close at $58.84 per share on March 5, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980

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SOURCE Pomerantz LLP