Adobe 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.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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
The class action lawsuit against Adobe claims that the company made false or misleading statements and failed to disclose key information during the Class Period. The lawsuit focuses on Adobe’s competition with Figma, a company offering a simple web-based tool for designing user interfaces, which was gaining significant market share in user experience design. The allegations are as follows:
- Figma was growing its market share and emerging as a leader in user experience design, directly competing with Adobe in this domain.
- Adobe’s product “Express” was not effectively countering Figma’s market share growth in attracting new customers to Adobe’s paid offerings.
- Adobe’s other products were also unsuccessful in competing with Figma in the realm of user experience design.
- As a result of these factors, Adobe was losing market share to Figma.
The lawsuit further alleges that on September 15, 2022, Adobe announced its intention to acquire Figma for $20 billion in cash and stock. Following this announcement, the price of Adobe stock reportedly fell nearly 17%, indicating investor concerns or dissatisfaction with the acquisition deal. This decline in stock value forms a central part of the lawsuit’s allegations against Adobe.
