CS Disco, Inc. (NYSE: LAW)
NEW YORK, NY – October 2, 2023 – Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a federal securities class lawsuit has been filed against CS Disco, Inc. (“CS Disco” or the “Company”) (NYSE: LAW) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired CS Disco common stock between July 21, 2021 and August 11, 2022, both dates inclusive (the “Class Period”).
All investors who purchased shares and incurred losses are advised to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
If you have incurred losses, you may, no later than November 20, 2023, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
The filed 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 shares fell 54%, to close at $13.43 per share, down $15.53 per share.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at email@example.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774