SAN FRANCISCO, April 18, 2024 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP is investigating potential legal claims on behalf of shareholders of Amplitude, Inc. (Nasdaq: AMPL) relating to possible false and misleading statements and significant insider trading by key executives.
Amplitude is a digital analytics platform. The company and certain of its current and former executives are currently named as defendants in a securities class action lawsuit filed in the U.S. District Court for the Northern District of California. There, the plaintiff alleges that the defendants misled the public about Amplitude's projected rates and timing of revenue growth between September 21, 2021 and February 16, 2022. During this period, the plaintiff alleges that Amplitude and its executives touted the company's strong demand and robust expansion of revenues from existing customers and falsely assured shareholders that the revenue projections and expansion strategy were on track, which they were not. When the truth emerged in February 2022, the company's stock price plummeted more than 50%. While the stock allegedly traded at artificially high prices, company insiders including CEO Spenser Skates, former CFO Hoang Vuong, and others sold over $275 million in Amplitude stock.
The Schubert Firm is investigating potential wrongdoing by Amplitude's officers and directors in connection with these allegations.
If you own stock in Amplitude and want additional information about your legal rights, please contact us today or visit our website at https://www.classactionlawyers.com/amplitude.
About Schubert Jonckheer & Kolbe LLP
Schubert Jonckheer & Kolbe represents shareholders, employees, and consumers in class actions against corporate defendants, as well as shareholders in derivative actions against their officers and directors. The firm is based in San Francisco, and with the help of co-counsel, litigates cases nationwide.
Contact
Dustin L. Schubert
Schubert Jonckheer & Kolbe LLP
dschubert@sjk.law
Tel: 415-788-4220
View original content:https://www.prnewswire.com/news-releases/shareholder-alert-amplitude-inc-ampl-officers-and-directors-face-shareholder-investigation-for-possible-false-statements-and-insider-trading-302120434.html
SOURCE Schubert Jonckheer & Kolbe LLP
