SAN DIEGO, April 03, 2024 (GLOBE NEWSWIRE) -- DiCello Levitt LLP reminds Amplitude, Inc. (Amplitude or the Company) (NASDAQ: AMPL) investors with significant losses that they have until April 15, 2024 to file their application for appointment as lead plaintiff in the Amplitude shareholder class action lawsuit. This action is pending in the United States District Court for Northern District of California.
If you purchased shares of Amplitude common stock between September 21, 2021 February 16, 2022, and suffered substantial losses, and you wish to serve as lead plaintiff in this lawsuit, you may submit your information here: https://dicellolevitt.com/securities/amplitude/
You can also contact DiCello Levitt partner Brian O'Mara by calling (888) 287-9005 or at investors@dicellolevitt.com
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Allegations
The Amplitude lawsuit alleges that Defendants misrepresented and failed to disclose the following adverse facts: (a) that Amplitude's land-and-expand strategy was years away from significantly accelerating revenues among its newer client cohorts; (b) that the rapid acceleration in the Company's second quarter of 2021 results stemmed from the ephemeral effects of the COVID-19 pandemic, which had not continued by the start of the Class Period, as Amplitude clients were expanding at a slower pace; and (c) that, as a result of (a)-(b) above, Amplitude's business, operations, financial results, and prospects were materially worse than represented to investors throughout the Class Period.
On February 16, 2022, the Company announced its fourth quarter of 2021 financial results. The release revised downward the Company's 2022 revenue guidance, from more than 40% to a range of $226 million to $234 million (or 35% - 40%). On this news Amplitude stock decline $24.51 per share to close at $17.10 on February 17, 2022.
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