NEW YORK, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against CS Disco, Inc. (“CS Disco” or the “Company”) (NYSE: LAW) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired CS Disco common stock in the (i) CS Disco, Inc. 2021 Employee Stock Purchase Plan; (ii) CS Disco, Inc. Long Term Incentive Plan and (iii) CS Disco, Inc. 2021 Equity Incentive Plan (hereinafter, the “Plans”) between July 21, 2021 through August 11, 2022, both dates inclusive (the “Class Period”). Investors have until November 20, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Click here to participate in the action.
The complaint alleges that during the Class Period, “CS Disco repeatedly touted strong growth in its revenues attributable to customer usage of its cloud-based electronic discovery platform and asserted that it had good advance visibility into changes in the demand from individual customers over time.” The complaint also alleges that “[w]hile the Company also acknowledged that its rapid revenue growth was ‘usage driven’ and may be subject to volatility, it did not inform investors during the Class Period that it had any indication of significant headwinds to its growth.”
The complaint further alleges that “[t]he truth began to emerge on August 11, 2022, when CS Disco released financial results for the second quarter of 2022 that shocked investors and analysts alike. Not only did the Company’s revenue growth taper drastically [as compared to] past quarters, but the Company alerted the markets that it would no longer be including in its guidance any revenues attributable to its largest customers for the entire year.” On August 12, 2022, CS Disco common shares fell 53% on heavy volume.
If you purchased or otherwise acquired CS Disco shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
