According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- defendants created the false impression that they possessed reliable information pertaining to GitLab’s ability to develop and incorporate artificial intelligence (“AI”) throughout the software development cycle in order to optimize code generation, thereby increasing market demand and making all levels of software development more affordable and properly monetizing GitLab’s AI features;
- in truth, there was weak market demand for GitLab’s touted AI features and GitLab was incurring an increasing amount of expenses involving JiHu, its joint venture in China, as well as the annual company-wide summit; and
- defendants misled investors by continually highlighting GitLab’s AI-driven innovations to develop software more efficiently and drive market share demands.
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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