NEW YORK, March 23, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Amplitude, Inc. (“Amplitude” or the “Company”) (NASDAQ: AMPL). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Amplitude and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until April 15, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Amplitude securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On February 16, 2022, Amplitude reported its fourth quarter 2021 results and revised downward its 2022 fiscal guidance. Among other items, the Company revealed that its vaunted land-and-expand strategy, which Amplitude had claimed had already proven successful, was in fact poised to “take a few years” before it was expected to accelerate results and that despite prior assurances of sustainable growth, Amplitude management “really [did not] know” when this impact would occur.
On this news, Amplitude’s stock price fell $24.51 per share, or 58.9%, to close at $17.10 per share on February 17, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
