GitLab Faces Multiple Class Action Lawsuits Over Alleged Securities Violations

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against GitLab, Agenus, and ZoomInfo and Encourages Investors to Contact the Firm - Agenus (NASDAQ:AGEN), GitLab (NASDAQ:GTLB)

NEW YORK, Sept. 14, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of against GitLab Inc. GTLB, Agenus Inc. AGEN, and ZoomInfo Technologies Inc. ZI. Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. GitLab Inc. GTLB Class Period: June 6, 2023 - March 4, 2024 Lead Plaintiff Deadline: November 4, 2024 According to the complaint, 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. On March 4, 2024, GitLab issued a press release reporting a strong Q1 in 2024, followed by an announcement lowering full-year guidance for 2025. In pertinent part, defendants announced that the company needed time to build its pipeline and close deals on new products. In addition, provided first quarter 2025 and full year 2025 guidance with growth rates hovering between 30 and 31% and 27%, respectively. Furthermore, GitLab anticipated a Q1 2025 non-GAAP operating loss of $12-$13 million and an operating non-GAAP revenue of $5-$10 million for the full year of 2025. 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. For more information on the GitLab class action go to: https://bespc.com/cases/GTLB Agenus Inc. AGEN Class Period: January 23, 2023 - July 17, 2024 Lead Plaintiff Deadline: November 5, 2024 The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the combination therapy of botensilimab and balstilimab was less effective than Defendants had led investors to believe; (2) accordingly, botensilimab and balstilimab's clinical results, as well as their regulatory and commercial prospects, were overstated; and (3) as a result, the Company's public statements were materially false and misleading at all relevant times. For more information on the Agenus class action go to: https://bespc.com/cases/AGEN ZoomInfo Technologies Inc. ZI Class Period: November 10, 2020 - August 5, 2024 Lead Plaintiff Deadline: November 4, 2024 The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) ZoomInfo's financial and operational results during the Class Period had been temporarily inflated by the ephemeral effects of the COVID-19 pandemic, which had pulled-forward demand for ZoomInfo's database of digital contact information; (2) material portions of ZoomInfo's existing customer base were attempting to either substantially reduce their use of ZoomInfo's product or abandon it altogether; (3) ZoomInfo had used manipulative and coercive auto-renew policies and threats of litigation to force customers into remaining with ZoomInfo for an additional contractual term even though such customers did not want to; (4) ZoomInfo's coercive customer retention tactics had materially damaged ZoomInfo's customer relationships, client franchise, and competitive advantages, and created a hidden demand cliff for costumer contract renewals in future periods; and (5) as a result of all of the above, ZoomInfo's reported revenues, operating income, and customer and retention metrics were materially overstated. For more information on the ZoomInfo class action go to: https://bespc.com/cases/ZI About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes. Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Marion Passmore, Esq. (212) 355-4648 [email protected] www.bespc.com Market News and Data brought to you by Benzinga APIs

ROSEN, RECOGNIZED INVESTOR COUNSEL, Encourages GitLab Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - GTLB - GitLab (NASDAQ:GTLB)

NEW YORK, Sept. 13, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of GitLab Inc. GTLB between June 6, 2023 and March 4, 2024, both dates inclusive (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. SO WHAT: If you purchased GitLab securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the GitLab class action, go to https://rosenlegal.com/submit-form/?case_id=28700 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. 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. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) defendants created the false impression that they possessed reliable information pertaining to GitLab's ability to develop and incorporate artificial intelligence ("AI") throughout the software development cycle in order to optimize code generation, thereby increasing market demand and making all levels of software development more affordable and properly monetizing GitLab's AI features; (2) in truth, 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; and (3) defendants misled investors by continually highlighting GitLab's AI-driven innovations to develop software more efficiently and drive market share demands. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the GitLab class action, go to https://rosenlegal.com/submit-form/?case_id=28700 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] www.rosenlegal.com Market News and Data brought to you by Benzinga APIs

Faruqi & Faruqi Reminds GitLab Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of November 4, 2024 - GTLB - GitLab (NASDAQ:GTLB)

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In GitLab To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $100,000 in GitLab between June 6, 2023 and March 4, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against GitLab Inc. ("GitLab" or the "Company") GTLB and reminds investors of the November 4, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: Defendants created the false impression that they possessed reliable information pertaining to the Company's ability to develop and incorporate AI throughout the software development cycle in order to optimize code generation thereby increasing market demand and making all levels of software development more affordable and properly monetizing its AI features. In truth, there was weak market demand for Gitlab's touted AI features, and the Company was incurring an increasing amount of expenses involving JiHu, its joint venture in China, as well as the annual company-wide summit. Defendants misled investors by continually highlighting its AI-driven innovations to develop software more efficiently and drive market share demands. Defendants provided these 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. 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. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding GitLab's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the GitLab class action, go to www.faruqilaw.com/GTLB or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/263d55b7-9072-4281-8770-859ca3d284fa Market News and Data brought to you by Benzinga APIs