Berman Tabacco Files Securities Class Action Lawsuit Against CS Disco, Inc. (LAW)
09 Novembro 2023 - 7:23PM
Business Wire
Berman Tabacco filed a class action lawsuit in U.S. District
Court for the Southern District of New York against CS Disco, Inc.
("CS Disco" or the "Company") (NYSE: LAW) and certain of its
current and former officers on behalf of persons and entities that
purchased shares of CS Disco’s common stock between July 21, 2021,
and August 11, 2022, inclusive (the “Class Period”), for violations
of the Securities Exchange Act of 1934. The case is captioned
Gambrill v. CS Disco, Inc., No. 1:23-cv-08270 (S.D.N.Y.).
Discuss Your Legal Rights and Options
If you wish to serve as Lead Plaintiff for the Class, you must
file a motion to serve as Lead Plaintiff with the Court no later
than November 20, 2023. Any member of the proposed class may
move the Court to serve as Lead Plaintiff through counsel of their
choice, or may choose to do nothing and remain a member of the
proposed class.
If you purchased shares of CS Disco common stock and sustained
losses and would like serve as Lead Plaintiff, please contact us
here: Shareholder Contact | Berman Tabacco.
About the Class 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. A
copy of the complaint is available here.
No Responsibility for Attorney's Fees or Expenses
Berman Tabacco typically represents individuals and entities in
class actions on a contingency fee basis, meaning we advance all
attorneys' fees and expenses in the litigation. If the case is
successful, the firm will ask the court to award the firm
attorneys' fees and the reimbursement of expenses from any
settlement fund. If we are not successful, you will not be
responsible for the reimbursement of attorneys' fees or
expenses.
About Berman Tabacco
Berman Tabacco represents institutions and individuals in
lawsuits seeking to recoup losses caused by corporate misconduct
and violations of the securities and antitrust laws. Since 1982,
our firm has prosecuted hundreds of securities and antitrust
complex cases. The firm and its attorneys have been recognized for
their work on behalf of plaintiffs, including by Chambers USA,
Benchmark Litigation, which has ranked the firm as Highly
Recommended and a Top Ten Plaintiffs, The Legal 500, U.S. News
& World Report-Best Lawyers, The Daily Journal, Lawdragon,
Who's Who Legal, and Super Lawyers.
The firm has offices in Boston, Massachusetts and San Francisco,
California.
This notice may constitute attorney advertising.
Past results do not guarantee future outcomes.
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version on businesswire.com: https://www.businesswire.com/news/home/20231109965876/en/
Berman Tabacco Jay Eng, Esq. One Liberty Square Boston,
Massachusetts Email: law@bermantabacco.com
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