GitLab, Inc. (NASDAQ: GTLB)

This lawsuit is for anyone who acquired securities in GitLab, Inc. (NASDAQ: GTLB) from June 6, 2023 through March 4, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that demand for Gitlab’s AI features was greater than the Company knew to be the case.

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, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in GitLab, Inc. (NASDAQ: GTLB) from June 6, 2023 through March 4, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.