NEW YORK, NY / ACCESSWIRE / March 25, 2024 / Pomerantz LLP is investigating claims on behalf of investors of GitLab Inc. ("GitLab" or the "Company") (NASDAQ:GTLB). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980
The investigation concerns whether GitLab and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On or around October 14, 2021, Gitlab conducted its initial public offering, selling 10.4 million shares priced at $77.00 per share. Then, on March 4, 2024, Gitlab issued a press release reporting its fourth quarter and full fiscal year 2024 financial results, as well as issuing guidance for fiscal year 2025. For 2025, Gitlab said that it expects adjusted earnings per share ranging from $0.19 to $0.23, compared to analyst expectations of $0.37, with revenue ranging between $725 million and $731 million, compared to analyst expectations of $732.2 million.
On this news, Gitlab's stock price fell sharply during intraday trading on March 5, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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