NEW YORK, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Amplitude, Inc. (“Amplitude” or the “Company”) (NASDAQ: AMPL) securities between September 21, 2021 and February 16, 2022, inclusive (the “Class Period”).
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s land-and-expand strategy was years away from significantly accelerating revenues among its newer client cohorts; (2) the rapid acceleration in the Company’s second quarter 2021 results resulted from the ephemeral effects of the COVID-19 pandemic which had not continued by the start of the Class Period, as the Company’s clients were expanding at a slower pace; and (3) as a result, the Company’s business, operations, financial results, and prospects were materially worse than represented to investors during the Class Period. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Amplitude should contact the Firm prior to the April 15, 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
