PCT - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against CS Disco PureCycle and GigaCloud and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of CS Disco, Inc. (NYSE:LAW), PureCycle Technologies, Inc. (NASDAQ:PCT), and GigaCloud Technology Inc. (NASDAQ:GCT). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
CS Disco, Inc. (NYSE:LAW)
Class Period: July 21, 2021 - August 11, 2022 (Common Stock Only)
Lead Plaintiff Deadline: November 20, 2023
The 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 common shares fell ...