According to the lawsuit, during the Class Period, Defendants falsely downplayed competition from Figma, which provides a simple web-based tool for designing user interfaces, and misleadingly suggested that Adobe’s existing offerings were adequate to counter any harms the Company may have otherwise faced due to Figma’s growing market position. As a result, certain statements were materially false and misleading because they failed to disclose that:
- Figma was growing its market share and was becoming a leader in user experience design;
- Figma was in direct competition with Adobe on user experience design;
- Adobe’s product “Express” was not an effective counter to Figma’s growing market share in bringing new customers to Adobe’s paid offerings;
- Adobe’s other offerings were not succeeding in competing with Figma on user experience design; and
- Adobe was losing market share to Figma.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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