Firm Files Class Action in NDCA on behalf of those who acquired securities of Gitlab, Inc. (NASDAQ:GTLB)

If you purchased the publicly traded securities of Gitlab during the Class Period you may be entitled to compensation

CHARLESTON, SC, UNITED STATES, September 27, 2024 /EINPresswire.com/ -- Poulin | Willey | Anastopoulo, a leading Plaintiffs class action firm announces the filing of a class action securities lawsuit in the United States District Court for the Northern District of California on behalf of persons or entities who purchased or otherwise acquired the securities of Gitlab, Inc., (“Gitlab” or the “Company”) (NASDAQ:GTLB) between June 6, 2023, and March 4, 2024, both dates inclusive (the “Class” and the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 4, 2024.

WHY: If you purchased the publicly traded securities of Gitlab during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency arrangement. There is no cost or obligation to participate.

WHAT’S NEXT: To join the Gitlab class action, call Stuart J. Guber, Esq. at 803-222-2222 or email Stuart J. Guber, Esq. at stuart.guber@poulinwilley.com. If you wish to serve as a lead plaintiff, you must move the Court no later than November 4, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

CASE DETAILS: According to the Complaint, Case 3:24-cv-06244, GitLab Inc. is a global software company that designs and develops software solutions. GitLab offers a platform for authentication, authorization, DeVops score, audit and value stream management. This lawsuit was filed against Gitlab and two of its Officers.

During the Class Period, Defendants provided investors with material information concerning GitLab's expected revenue for the fiscal year 2025. The Complaint alleges that Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning GitLab’s ability to develop AI features that would generate code more efficiently and increase market demand for its DevSecOps platform.

The truth emerged on March 4, 2024, when GitLab issued a press release reporting a strong Q1 in 2024, followed by an announcement lowering full-year guidance for 2025. Amongst other things, Defendants announced that the Company needed time to build its pipeline and close deals on new products. Investors and analysts reacted immediately to GitLab’s revelation. The price of GitLab’s common stock declined dramatically. From a closing market price of $74.47 per share on March 4, 2024, GitLab’s stock price fell to $58.84 per share on March 5, 2024, a decline of about 21% in the span of just a single day.

NO COST TO YOU: No Recovery, No Attorney’s Fees, No Costs. We represent you on a fully contingent basis. There are no fees or costs to you for your participation in the lawsuit if the lawsuit is unsuccessful.

WHY POULIN | WILLEY| ANASTOPOULO: The firm is one of the leading Plaintiff class action and mass tort firms in the country. Our Director of Shareholder Services and Securities Litigation, Stuart J. Guber, has over three decades of experience successfully representing defrauded shareholders including public pension plans, Taft-Hartley union pension plans and health & welfare funds, and individual investors in class action securities litigation and securities opt-out litigation. In addition, firm partner Roy Willey IV has served as counsel in class actions and multi district litigations across the country. He brings a creative, problem-solving based approach to handling cases for consumers, investors and others harmed through no fault of their own. As a result he has been repeatedly named among America’s Top 100 High Stakes Litigators, Best Lawyers, and Super Lawyers.

Stuart Guber
Poulin | Willey | Anastopoulo
+1 803-222-2222
stuart.guber@poulinwilley.com
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