GitLab Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
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CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
GitLab, a global software company, is facing a class action lawsuit. The lawsuit claims that during the Class Period, the company and its executives made misleading statements and failed to reveal important information. Specifically, it is alleged that GitLab created a misleading impression about their ability to develop and use AI to improve code generation, increase market demand, make software development more affordable, and effectively monetize their AI features.
In reality, there was weak market demand for GitLab’s AI features, and the company was facing growing costs related to its joint venture in China (JiHu) and its annual company-wide summit.
Additionally, on March 4, 2024, GitLab announced that its projected full-year guidance for 2025 was lower than expected, citing the need for more time to build a sales pipeline and close deals on new products. Following this announcement, GitLab’s stock price dropped nearly 21%, according to the lawsuit.
