RADNOR, Pa.--(BUSINESS WIRE)--The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California against Autodesk, Inc. (“Autodesk”) (NASDAQ: ADSK). The action charges Autodesk with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects. As a result of Autodesk’s materially misleading statements and omissions to the public, Autodesk’s investors have suffered significant losses.
If you suffered Autodesk losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/autodesk-inc?utm_source=PR&utm_medium=link&utm_campaign=adsk&mktm=r
You can also contact attorney Jonathan Naji, Esq. of Kessler Topaz by calling (484) 270-1453 or by email at info@ktmc.com. The lead plaintiff deadline is June 24, 2024.
DEFENDANTS’ ALLEGED MISCONDUCT
The Class Period begins on June 1, 2023, when Autodesk filed with the SEC its quarterly report on Form 10-Q for the period ended April 30, 2023. Therein, and throughout the Class Period, Defendants assured investors as to the accuracy of financial reporting, the disclosure of any material changes to the company’s internal control over financial reporting and the disclosure of all fraud.
Then, on April 1, 2024, Autodesk disclosed that the company would be unable to timely file its annual report due to “an internal investigation with the assistance of outside counsel and advisors, regarding the Company’s free cash flow and non-GAAP operating margin practices.” On this news, Autodesk’s stock price fell $10.73, or 4.1%, to close at $248.71 per share on April 2, 2024.
On April 16, 2024, Autodesk issued a press release providing an update on the internal investigation, stating that the company “will not file its Annual Report…within the 15-day extension period…due to the ongoing investigation” and “expects to receive a notice from the Nasdaq Stock Market…that it is not in compliance with the timely filing requirement for continued listing under Nasdaq” listing rules. On this news, Autodesk’s stock price fell $13.32 per share, or 5.84%, to close at $214.92 per share on April 17, 2024.
WHAT CAN I DO?
Autodesk investors may, no later than June 24, 2024, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Autodesk investors who have suffered significant losses to contact the firm directly to acquire more information. The class action complaint against Autodesk, Barkasi v. Autodesk, Inc., et al., Case No. 24-cv-02431, is filed in the United States District Court for the Northern District of California.
CLICK HERE TO SIGN UP FOR THE CASE or go to: https://www.ktmc.com/new-cases/autodesk-inc?utm_source=PR&utm_medium=link&utm_campaign=adsk&mktm=r
WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
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