Rosen, National Investor Counsel, Encourages GitLab Inc. Investors to Secure Counsel Before Important November 4 Deadline in Securities Class Action – GTLB

Core Viewpoint - Rosen Law Firm is reminding investors who purchased GitLab Inc. securities between June 6, 2023, and March 4, 2024, of the upcoming lead plaintiff deadline on November 4, 2024, for a class action lawsuit related to misleading statements made by the company [1]. Group 1: Class Action Details - Investors who purchased GitLab securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by the November 4, 2024 deadline [1][3]. - The lawsuit alleges that GitLab made false and misleading statements regarding its ability to develop and incorporate AI into its software, leading to a false impression of market demand and financial performance [3]. Group 2: Allegations Against GitLab - The lawsuit claims that GitLab misrepresented its AI capabilities, suggesting strong market demand when, in fact, there was weak demand for its AI features [3]. - It is alleged that GitLab incurred increasing expenses related to its joint venture in China and other operational costs, which were not disclosed to investors [3]. - The misleading emphasis on AI-driven innovations is said to have misled investors about GitLab's market position and financial health [3].