Type: Securities Fraud case filed

According to the Complaint, the Company made false and misleading statements to the market. Snowflake oversold capacity to customers creating the illusion of demand for its products and services. The Company gave significant discounts to customers in advance of its initial public offering (“IPO”) to boost sales, which was not sustainable after the IPO and would negatively impact its profit margins. The Company’s customer base was likely to roll over unused credits, cannibalizing future sales. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Snowflake, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Nextdoor’s financial performance prior to its SPAC merger with Khosla Ventures Acquisition Co. II was inflated by the COVID-19 pandemic, which cannibalized future growth opportunities. By the beginning of the class period, the Company’s growth trend had already begun reversing. The Company’s total addressable market was smaller than the 312 million households it represented to investors. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Nextdoor, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. The Children’s Place engaged in aggressive discounting and promotional offers. The Company’s inventory was overvalued due to its promotional strategy. The Company’s overvalued inventory was likely to negatively impact its fiscal 2023 financial performance. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about The Children’s Place, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Palo Alto Networks failed to drive increased market share with its consolidation and platformization initiatives. The Company used free product offerings to entice customers to adopt more platforms. The Company could not sustain its high growth in billings. The Company’s new AI offerings were also not driving platformization. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Palo Alto Networks, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Lantronix overstated consumer demand for its Internet of Things (“IoT”) products. The Company’s customers were reducing IoT inventory resulting in a general slowdown in its business. Expected revenues from a customer design win were delayed to a future period. The Company was incapable of meeting its prior revenue guidance. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Lantronix, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Demand for products from Dick’s Outdoor segment had slowed to the point that it suffered from excess inventory. The Company’s touted “structural changes” failed to help it manage excess inventory without damaging profitability. The Company’s need to liquidate excess merchandise would have a materially negative impact on its profitability. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Dick’s, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Innodata failed to develop viable AI technology. Contrary to the Company’s claims, its GoldenGate AI platform was basic software created by a small group of employees. The Company would not utilize AI in its new Silicon Valley contracts to any real degree. The Company failed to invest in AI research & development. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Innodata, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Sunnova engaged in predatory business practices aimed at disadvantaged communities. The Company’s predatory practices exposed it to both regulatory scrutiny and reputational harm. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Sunnova, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Amplitude’s strategy of “land-and-expand” was years away from accelerating revenue growth among newer clients. The Company’s rapid acceleration in the second quarter of 2021 was directly related to the effects of the COVID-19 pandemic and had considerably slowed by the start of the class period. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Amplitude, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. InMode used heavy discounting on almost every device it sells to build demand. This practice has reached the point of demand for the Company’s devices being primarily driven by its discounting practices. The Company violated FDA regulations with off-label marketing. The Company also violated FDA violations by failing to report injuries caused by its devices in a timely manner. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about InMode, investors suffered damages.