NEW YORK, June 26, 2024 /PRNewswire/ -- Moore Law, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:
- Autodesk, Inc. (NASDAQ: ADSK)
Shareholders who acquired before June 1, 2023 should email: Fletcher@fmoorelaw.com
Autodesk describes itself as a "global leader in 3D design, engineering and entertainment technology solutions, spanning architecture, engineering, construction, product design, manufacturing, media, and entertainment."
The investigation concerns a lack of adequate internal controls as a result of issues with its free cash flow and non-GAAP operating margin practices. On April 1, 2024, the Company filed with the SEC a late filing notice announcing its Audit Committee had initiated an internal investigation regarding the Company's free cash flow and non-GAAP operating margin practices. On this news, the price of Autodesk stock fell $10.73 per share, or 4.13%, to close at $248.71 on April 2, 2024. Then, on April 16, 2024, the Company revealed it was unable to file its Form 10-K within the 15-day extension received from the SEC. On this news, the price of Autodesk stock fell $13.32 per share, or 5.83%, to close at $214.92 on April 17, 2024.
On March 8, 2024, the Company voluntarily contacted the U.S. Securities and Exchange Commission ("SEC") to inform it of the Internal Investigation. On April 3, 2024, the United States Attorney's Office for the Northern District of California ("USAO") contacted the Company regarding the Internal Investigation. The Company voluntarily provided the SEC and USAO with certain documents relating to the Internal Investigation and will continue to cooperate with the SEC and USAO. At this stage, the Company cannot reasonably estimate the amount of any possible financial loss that could result from this matter.
If you own Autodesk, Inc. (NASDAQ: ADSK), please contact Fletcher Moore by email at fletcher@fmoorelaw.com or (212) 709-8245.
ABOUT MOORE LAW PLLC
Moore Law is a NYC plaintiff litigation law firm for investors. We hold officers and directors accountable for breaches of fiduciary duty, fraud, insider trading, wasteful spending, and other corporate malfeasance. There is no cost to you. Our investor cases are contingency only.
Fletcher Moore, Esq.
Moore Law, PLLC
fletcher@fmoorelaw.com
(212) 709-8245
www.fmoorelaw.com
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SOURCE Moore Law PLLC
