GitLab Inc.
| Company Name | GitLab Inc. |
| Stock Symbol | GTLB |
| Class Period | June 06, 2023 to March 04, 2024 |
| Lead Plaintiff Motion Deadline | November 04, 2024 |
On March 4, 2024, GitLab lowered its full-year 2025 guidance, disclosing that it expected a non-GAAP operating loss of $12 million to $13 million and an operating non-GAAP revenue of $5 million to $10 million. The Company stated that the revision was due to needing time to build its pipeline and close deals on new products.
On this news, GitLab’s stock price fell $15.63, or 21%, to close at $58.84 per share on March 5, 2024, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) there was weak market demand for Gitlab’s touted AI features and the Company was incurring an increasing amount of expenses involving JiHu, its joint venture in China, as well as the annual company-wide summit; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Submit Your Information
If you suffered a loss on your GitLab Inc. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.