The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Adobe Inc. who purchased common stock between July 23, 2021 and September 15, 2022.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Figma was growing its market share and was becoming a leader in user experience design; (b) Figma was in direct competition with Adobe on user experience design; (c) Adobe’s product “Express” was not an effective counter to Figma’s growing market share in bringing new customers to Adobe’s paid offerings; (d) Adobe’s other offerings were not succeeding in competing with Figma on user experience design; and (e) Adobe was losing market share to Figma.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until December 19, 2023 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.