SAN FRANCISCO, CA / ACCESSWIRE / October 31, 2023 / National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in CS Disco, Inc. ("CS Disco" or the "Company") (NYSE:LAW) who suffered losses from purchasing or otherwise acquiring common stock of CS Disco between July 21, 2021 and August 11, 2022 to contact us immediately regarding a pending securities fraud class action against CS Disco. The deadline to apply to be lead plaintiff is November 20, 2023.
Class Period: July 21, 2021 - August 11, 2022
Lead Plaintiff Motion Deadline: November 20, 2023
Case information:lieffcabraser.com/securities/csdisco
Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358
CS Disco provides technologies to simplify electronic discovery, legal document review, legal hold and case management for enterprises, law firms, legal services providers, and governments.
The securities class action alleges that, throughout the Class Period, CS Disco made materially false and misleading statements touting strong growth in its revenues attributable to customer usage of its cloud-based electronic discovery platform and that it had good visibility into changes in customer demand. Defendants failed to disclose that: (1) the Company's past revenue growth was attributable to a small number of large customers who had since decided to stop purchasing CS Disco's services; and (2) as a result, the Company's statements about its business and operations were materially false or misleading at all relevant times.
On August 11, 2022, CS Disco reported disappointing financial results for the second quarter of 2022, revealing that its revenue growth had dwindled from the previous year, and lowered its full year 2022 guidance, noting that it will no longer include any revenue attributable to its largest customers. In effect, the Company revealed that its prior growth was driven by a small number of major clients whose business it had since lost. On this news, CS Disco's stock price dropped $15.53 per share, or 53.63%, from its closing price of $28.96 on August 11, 2022, to close at $13.43 on August 12, 2022, on elevated trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 120 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a "Plaintiffs' Powerhouse" by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.
Source/Contact
Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com
SOURCE: Lieff Cabraser Heimann & Bernstein
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