ADBE - Robbins LLP Reminds Adobe Inc. Shareholders of the December 19 Lead Plaintiff Deadline in the ADBE Class Action | Benzinga
SAN DIEGO, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action lawsuit on behalf of persons and entities that purchased or otherwise acquired Adobe Inc. (NASDAQ:ADBE) common stock between July 23, 2021 and September 15, 2022. Adobe is a software company that offers tools on a subscription basis for, among other things, sharing documents, editing pictures, and designing web pages.
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What is this Case About: Adobe Inc. (ADBE) Misled Investors Regarding its Competitor Figma
According to the complaint, during the class period, defendants repeatedly downplayed the competitive pressure Adobe was experiencing from companies like Figma, which provides a simple web-based tool for designing user interfaces. Defendants cast Figma as merely a "point" player in the wider digital design market, and maintained that Figma's customers would eventually graduate (and switch) to Adobe's more advanced products. In that vein, Defendants wrongly led ...