NEW YORK, NY / ACCESSWIRE / October 23, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Adobe Inc. ("Adobe" or the "Company") (NASDAQ:ADBE). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Adobe and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On September 12, 2024, Adobe issued a press release reporting financial results for the third quarter of its fiscal year 2024. Although Adobe reported net new annual recurring revenue of $44 million, exceeding guidance, its fourth quarter outlook fell short of consensus estimates by approximately $21 million.
Following this news and expressions of concern by investors and analysts, Adobe's stock price fell $49.68, or 8.47%, to close at $536.87 per share on September 13, 2024.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
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SOURCE: Pomerantz LLP
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