Investigation announced for Investors in shares of GitLab Inc. (NASDAQ: GTLB) over possible Violations of Securities Laws

An investigation was announced concerning potential securities laws violations by GitLab Inc. in connection with certain financial statements.

Investors who purchased shares of GitLab Inc. (NASDAQ: GTLB), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by GitLab Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Francisco, CA based GitLab Inc., through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. On or around October 14, 2021, Gitlab conducted its initial public offering, selling 10.4 million shares priced at $77.00 per share.

GitLab Inc. reported that its Total Revenue rose from $252.65 million for the 12 months period that ended on January 31, 2022, to $424.3 million for the 12 months period that ended on January 31, 2023, and that its Net Loss over those respective time periods increased from $155.13 million to $172.31 million.

Then, on March 4, 2024, GitLab Inc. reported its fourth quarter and full fiscal year 2024 financial results, as well as issuing guidance for fiscal year 2025. For 2025, GitLab Inc. said that it expects adjusted earnings per share ranging from $0.19 to $0.23, compared to analyst expectations of $0.37, with revenue ranging between $725 million and $731 million, compared to analyst expectations of $732.2 million.

Shares of GitLab Inc. (NASDAQ: GTLB) declined from $73.16 per share on February 27, 2024, declined to as low as $53.10 per share on March 15, 2024.

Those who purchased shares of GitLab Inc. (NASDAQ: GTLB) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.