Core Viewpoint - GitLab Inc. is facing a class action securities lawsuit due to alleged securities fraud that negatively impacted investors between June 6, 2023, and March 4, 2024 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that GitLab's management made overly positive statements while concealing material adverse facts about the company's ability to develop AI features for its DevSecOps platform [2]. - On March 4, 2024, GitLab reported a strong Q1 2024 but subsequently lowered its full-year guidance for 2025, indicating a need for more time to build its pipeline and close deals [2]. - GitLab provided guidance for Q1 2025 and full year 2025, projecting growth rates of approximately 30-31% and 27%, respectively, alongside an anticipated non-GAAP operating loss of $12-$13 million for Q1 2025 [2]. Group 2: Market Reaction - Following the announcement on March 4, 2024, GitLab's stock price fell from $74.47 to $58.84 per share, marking a decline of about 21% in just one day [2]. Group 3: Investor Participation - Investors who suffered losses during the relevant timeframe have until November 4, 2024, to request appointment as lead plaintiff, although participation does not require serving in this role [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 4: Legal Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years [4].
GitLab Inc. Securities Fraud Class Action Lawsuit Pending: Contact Levi & Korsinsky Before November 4, 2024 to Discuss Your Rights - GTLB