SAN
DIEGO, Feb. 19, 2024 /PRNewswire/ -- DiCello
Levitt LLP announces that purchasers or acquirers of Amplitude,
Inc. ("Amplitude" or the "Company") (NASDAQ: AMPL) common stock
between September 21, 2021 and
February 16, 2022, inclusive (the
"Class Period") have until April 15,
2024 to seek appointment as lead plaintiff of the Amplitude
class action lawsuit. The lawsuit charges Amplitude and
certain of its senior executive officers with violations of the
Securities Exchange Act of 1934.
If you purchased shares of Amplitude common stock between
June 4, 2021 and October 12, 2023, 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.
About DiCello Levitt
At DiCello Levitt, we are dedicated to achieving justice for our
clients through securities, class action, business-to-business,
public client, whistleblower, personal injury, civil and human
rights, and mass tort litigation. Our lawyers are highly
respected for their ability to litigate and win cases—whether by
trial, settlement, or otherwise—for people who have suffered harm,
global corporations that have sustained significant economic
losses, and public clients seeking to protect their citizens'
rights and interests. Every day, we put our reputations—and
our capital—on the line for our clients.
DiCello Levitt has achieved top recognition as 2023 Plaintiffs
Firm of the Year and 2023 Trial Innovation Firm of the Year by the
National Law Journal, in addition to its top-tier
Chambers and Benchmark ratings. For more information
about the Firm, including recent trial victories and case
resolutions, please visit www.dicellolevitt.com.
Attorney Advertising. Prior results do not
guarantee a similar outcome.
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SOURCE DiCello Levitt LLP
