GITLAB CLASS ACTION LAWSUIT: THE SUPERLATIVE INVESTOR PLAYBOOK

GITLAB TECHNOLOGY SUBMISSION FORM

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INTRODUCTION TO THE GITLAB CLASs ACTION LAWSUIT

Contact us today for a free case evaluation in the GitLab class action lawsuit

The GitLab class action lawsuit seeks to represent purchasers or acquirers of GitLab Inc. (NASDAQ: GTLB) publicly traded securities between June 6, 2023, and March 4, 2024, inclusive (the “Class Period”).  Captioned Dolly v. GitLab Inc., No. 24-cv-06244 (N.D. Cal.), the GitLab class action lawsuit charges GitLab and certain of GitLab’s top executives with violations of the Securities Exchange Act of 1934.

If you have suffered losses in GitLab stock and are interested in becoming the lead plaintiff in the GitLab class action lawsuit or have any inquiries regarding your rights as a shareholder, please reach out to GitLab Stock Loss Lawyer Timothy L. Miles at no cost. You can contact him by calling 855/846-6529, sending an e-mail to [email protected], or filling out a contact form below. Lead plaintiff motions for the GitLab ​class action lawsuit must be filed with the court no later than November 4, 2024.

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allegations in the GitLab CLASS ACTION lawsuit

GitLab is a global software company that designs and develops software solutions. Below are the key allegations in the GitLab ​class action lawsuit.

• Misleading AI Claims:

GitLab allegedly created a false impression about their ability to develop and incorporate AI throughout the software development cycle, exaggerating its potential to optimize code generation and increase market demand.

• Financial Misrepresentation:

The lawsuit claims GitLab failed to disclose weak market demand for their touted AI features and increasing expenses related to JiHu, their joint venture in China, as well as the annual company-wide summit.

• Stock Price Impact:

Following GitLab's disclosure of lower-than-expected full-year guidance for 2025 on March 4, 2024, the company's stock price plummeted nearly 21%.

• Class Period Allegations:

Throughout the Class Period, defendants allegedly made false and/or misleading statements, failing to provide accurate information about GitLab's market position and financial outlook.

• Investor Deception:

The lawsuit asserts that GitLab's actions led investors to believe they possessed reliable information about the company's AI capabilities and market demand, potentially influencing investment decisions.

THE LEAD PLAINTIFF DEADLINE IN THE CLASS ACTION against GitLab

​Lead plaintiff motions for the GitLab class action lawsuit ​must be filed with the court no later than November 4, 2024.​ When a securities class action is filed such as the GitLab class action lawsuit:

1. The person who files the first complaint is required to publish a notice announcing the filing.
2. Anyone who wants to be lead plaintiff on behalf of the class must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published. 

YOU HAVE TWO CHOICES IF YOU RECEIVE A NOTICE IN THE GITLAB CLASS ACTION LAWSUIT

​First, read the notice very carefully.  You have two choices. 

• First, you can do nothing and remain a member of the class represented by lead counsel. 
• Second, if you believe you have a large enough loss to justify it, you can opt out of the GitLab class action lawsuit and file your own separate lawsuit.

​Note, that if you opt-out, you will not be able to participate in any settlement or recovery obtained in the GitLab class action lawsuit.

THE LEAD PLAINTIFF PROCESS IN THE GitLab class action LAWSUIT

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Under the Private Securities Litigation Reform Act of 1995 (PSLRA):

• Any investor who purchased and suffered losses in GitLab stock may seek appointment as lead plaintiff in the GitLab 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 class action lawsuit.
• The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. 
• An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. 

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THE BENEFITS OF SERVING AS A LEAD PLAINTIFF IN THE GitLab CLASS ACTION LAWSUIT

1. Negotiating more competitive attorney fees and reducing litigation costs.
2. Managing the litigation by overseeing the progress of the case and reviewing important filings.
3. Participating in mediation and settlement discussions.
4. Having a voice in decision-making processes regarding the settlement.
5. No financial risk, as lead counsel covers all costs and expenses and are paid only if they secure a  settlement or judgment recovery for the class
6. Potentially enjoying long-term benefits from governance reform resulting from the litigation.

THE RESPONSIBILITIES THE LEAD PLAINTIFF WILL HAVE IN THE GitLab CLASS ACTION LAWSUIT

1. Selecting, monitoring, and overseeing Lead Counsel.
2. Reviewing and commenting on court filings on behalf of the class.
3. Discussing litigation strategies with the Lead Counsel.
4. Attending depositions (if necessary) and giving a deposition.
5. Attending hearings (if necessary).
6. Participating in mediation and the trial (if necessary).
7. Provide input on any decision concerning the settlement of the securities class action.

ELIGIBILITY CRITERIA FOR LEAD PLAINTIFF APPOINTMENT IN THE gitlab CLASS ACTION LAWSUIT

To be eligible for appointment as the lead plaintiff in the GitLab class action lawsuit, an investor must meet the following criteria:

1. Securities Acquisition: The investor must have purchased or acquired GitLab securities during the Class Period, spanning June 6, 2023, and March 4, 2024.
2. Financial Losses: The investor must have suffered financial losses as a direct result of the alleged securities fraud perpetrated by GitLab and its executives.
3. Typicality and Adequacy: The investor's legal claims must be typical of those asserted on behalf of the class, and they must demonstrate their ability to adequately represent the interests of the entire class through experience, resources, and the absence of conflicts of interest.

It is crucial to note that both domestic and international investors who meet these criteria are eligible to seek appointment as the lead plaintiff in the GitLab class action lawsuit, as courts have consistently recognized the rights of non-U.S. investors in securities class actions.

LEGAL REQUIREMENTS FOR PREVAILING IN THE GitLab CLASS ACTION LAWSUIT

1. Material Misrepresentation or Omission
2. Scienter
3. Connection to Securities Transaction
4. Reliance
5. Economic Loss
6. Loss Causation

STAGES OF THE CLASS ACTION AGAINST GitLab

1. Consolidation and Lead Plaintiff Appointment
2. Filing of Consolidated Complaint
3. Motion to Dismiss
4. Class Certification
5. Discovery
6. Settlement Negotiations and Mediation
7. Summary Judgment Motions
8. Trial
9. Appeals

CONTINGENCY FEE ARRANGEMENTS AND COST CONSIDERATIONS

If you suffered losses in GitLab stock, call Timothy L. Miles today for a free case evaluation

• Many securities litigation attorneys, including Timothy L. Miles, operate on a contingency fee basis, which means clients do not pay any upfront fees or costs. Instead, the attorney's fees and expenses are deducted from any settlement or judgment recovered on behalf of the class, typically as a court-approved percentage of the total recovery.

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This arrangement ensures that investors can pursue their legal rights without bearing the financial burden of costly litigation, as the attorneys assume the risk and only receive compensation if they achieve a successful outcome for the class.

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FREQUENTLY ASKED QUESTIONS

Can I serve as a lead plaintiff in the class action against GitLab if I purchases shares outside of the class period?

​​No.  Even if you suffered losses in GitLab ​​​ stock, if you purchased securities outside of the Class period, you will not be able to participate in the GitLab class action lawsuit.

Can I serve as a lead plaintiff in the class action against GitLab if I am serving as lead plaintiff in another securities fraud case?

​​​​​Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in GitLab  stock, you may move to be appointed lead plaintiff in the GitLab class action lawsuit.

Can the court appoint more than one lead plaintiff in the GitLab lawsuit?

​​​​Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs in the GitLab class action lawsuit

How do I know if I am a member of the class in the class action against GitLab?

​​​If you purchased shares during the class period and suffered losses in GitLab stock, then you are most likely a member of the class in the GitLab class action ​lawsuit and may participate in the GitLab class action ​lawsuit since you suffered losses in GitLab stock.

Can I serve as lead plaintiff in the GitLab class action lawsuit if I sold my shares?

​​Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the GitLab class action ​lawsuit.

Resources for Investors in the GITLAB Class Action Lawsuit and Others

• Seeking Alpha​
• A Wealth of Common Sense
• Better Investing
• U. S. Securities & Exchange Commission
• Investor.gov
• Yahoo Finance
• Investopedia
• SEC (Resources for Investors)
• Investor Resources Inc.​
• Vanguard
• Investor's Resource: Home​​

CONTACT GitLab STOCK LOSS LAWYER TODAY TIMOTHY L MILES TODAY ABOUT A GitLab CLASS ACTION LAWSUIT

​If you suffered losses in GitLab stock, contact GitLab stock loss lawyer Timothy L. Miles today for a free case evaluation about a GitLab class action lawsuit. Call today and see what a GitLab stock loss lawyer could do for you if you suffered losses in GitLab ​stock. ​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. ​

GITLAB CLASS ACTION LAWSUIT
GITLAB TECHNOLOGY STOCK LOSS LAWYER
TIMOTHY L. MILES
300 CENTERVIEW DR, UNIT 247
BRENTWOOD, TN 27027
​855-846-6528

FREE CASE EVALUATION:
GITLAB TECHNOLOGY CLASS ACTION LAWSUIT
If you suffered losses in GitLab stock, call GitLab stock loss lawyer Timothy L. Miles today for a
free case evaluation about a GitLab class action lawsuit. 
​855-846-6528​