NEW YORK, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own shares of CS Disco, Inc. (NYSE: LAW)?
- Did you purchase your shares between July 21, 2021 and August 11, 2022, inclusive?
- Did you lose money in your investment in CS Disco, Inc.?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the common stock of CS Disco, Inc. (“CS Disco” or the “Company”) (NYSE: LAW) between July 21, 2021 and August 11, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of New York and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired CS Disco common stock, and/or would like to discuss your legal rights and options please visit CS Disco, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Plaintiff alleges that Defendants made misstatements throughout the Class Period. According to the Complaint, CS Disco asserts that it provides cloud-based, artificial intelligence-powered technologies to simplify electronic discovery, legal document review, legal hold and case management for enterprises, law firms, legal services providers, and governments. CS Disco’s principal revenue-generating segment was its electronic document review platform. Beginning with its July 2021 initial public offering (“IPO”) and throughout 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.
On August 11, 2022, 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 over 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. Nevertheless, during an investors call following the earnings release, the Company’s Chief Executive Officer denied that the Company’s decline in revenue was the result of losing any major customers.
On this news, CS Disco’s common stock fell $15.53 per share, or approximately 53.6%, to $13.43 per share on August 12, 2022.
If you wish to serve as lead plaintiff, you must move the Court no later than November 20, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired CS Disco common stock, and/or would like to discuss your legal rights and options please visit CS Disco, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
