NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired Autodesk, Inc. (“Autodesk” or the “Company”) (NASDAQ: ADSK) securities during the period of June 1, 2023 through April 16, 2024, inclusive (“the Class Period”). Investors have until June 24, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
[Click here to learn more about the class action]
On April 1, 2024, Autodesk filed with the U.S. Securities and Exchange Commission (SEC) a notice of late filing on Form 12b-25. The filing stated that the delay was due to “an internal investigation” about the “Company’s free cash flow and non-GAAP operating margin practices.” On this news, the price of Autodesk shares declined by $10.73 per share to close at $248.71 on April 2, 2024.
On April 16, 2024, Autodesk issued a press release entitled “Autodesk provides update on delayed Form 10-K filing.” It revealed that the Company would not be able to file its 10-K within the 15-day extension period. On this news, the price of Autodesk shares declined by $13.32 per share to close at $214.92 on April 17, 2024.
The lawsuit alleges that Autodesk throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that the Company lacked adequate internal controls as a result of issues with its free cash flow and non-GAAP operating margin practices.
If you purchased or otherwise acquired Autodesk securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
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