PDF

Amplitude, Inc. Class Action Lawsuit - AMPL

1 day left to seek lead plaintiff status

Case Summary

Investors who suffered a loss and would like to learn more, click here to contact us.

Robbins Geller Rudman & Dowd LLP has filed a class action lawsuit seeking to represent purchasers or acquirers of Amplitude, Inc. (NASDAQ: AMPL) stock between September 21, 2021 and February 16, 2022, inclusive (the “Class Period”).  Captioned Fagan v. Amplitude, Inc., No. 24-cv-00898 (N.D. Cal.), the Amplitude class action lawsuit charges Amplitude and a current and former executive officer with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Amplitude class action lawsuit, please provide your information in the form on this page.  You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.  Lead plaintiff motions for the Amplitude class action lawsuit must be filed with the court no later than April 15, 2024.

CASE ALLEGATIONS: Amplitude is a technology company that helps businesses analyze data for their digital products and track customer interactions. 

The Amplitude class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Amplitude’s land-and-expand strategy was years away from significantly accelerating revenues among its newer client cohorts; and (ii) the rapid acceleration in Amplitude’s second quarter of 2021 results resulted 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.

On February 16, 2022, Amplitude revised downward its 2022 revenue guidance, from more than 40% to a range of $226 million to $234 million (or 35% to 40%).  During the earnings call that followed, Amplitude CFO, defendant Hoang Vuong, stated that Amplitude was still “a few years” away from many of its new customers “completely embrac[ing] the full capability of [Amplitude’s] digital optimization,” which he stated would eventually “drive larger expansion.”  On this news, the price of Amplitude stock fell nearly 59%.

The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud.  You can view a copy of the complaint by clicking here.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Amplitude stock during the Class Period to seek appointment as lead plaintiff in the Amplitude class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the Amplitude class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the Amplitude class action lawsuit.  An investor’s ability to share in any potential future recovery of the Amplitude class action lawsuit is not dependent upon serving as lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases.  The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list.  And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm.  With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.

Submit Your Information

Valid monetary value, for example, $1000.00

* indicates a required field

Main Menu