AMPL - AMPL STOCKHOLDER ALERT: Robbins LLP Reminds Investors of Quickly Approaching Lead Plaintiff Deadline – April 15 2024 – in the Amplitude Inc. Class Action | Benzinga
SAN DIEGO, April 02, 2024 (GLOBE NEWSWIRE) --
Shareholder rights law firm Robbins LLP reminds investors that it filed a class action lawsuit on February 14, 2024, in the U.S. District Court for the Northern District of California (the "Court") on behalf of all persons who purchased or otherwise acquired Amplitude, Inc. ("Amplitude") (NASDAQ:AMPL) stock between September 21, 2021 and February 16, 2022 (the "Class Period"). The complaint alleges violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and U.S. Securities and Exchange Commission Rule 10b-5, promulgated thereunder. The complaint seeks relief on behalf of the named plaintiff and all other similarly situated holders of Amplitude during the Class Period. The named plaintiff is represented by Robbins LLP.
The Allegations:
Founded in 2012, Amplitude is a technology company that helps businesses analyze data for their digital products and track customer interactions.
During the Class Period, Amplitude claimed to be experiencing extraordinary growth due to "strong demand for [its] products" and a "robust" expansion from existing customers. Specifically, in connection with the Company's second quarter 2021 ("2Q21") earnings, Amplitude reported that "revenue growth accelerated" during the quarter and was "up 66% year-over-year." Moreover, Amplitude's Chief Financial Officer confirmed that such business acceleration was sustainable.
In September 2021, Amplitude conducted its initial public offering via direct listing (the "IPO"). Defendants' Class Period statements ...