Case Summary

Autodesk

NASDAQ: ADSK

Case Details

  • Barkasi v. Autodesk, Inc. et al.
  • Class Period: June 1, 2023 - April 16, 2024
  • Date Filed:April 24, 2024
  • Jurisdiction:U.S. District Court, Northern District of California
  • Docket Number: 3:24-cv-02431
  • Lead Plaintiff Deadline: June 24, 2024
Days Left to
Seek Plaintiff
30

Overview

A class action lawsuit has been filed against Autodesk, Inc. (“Autodesk” or the “Company”) (NASDAQ: ADSK) and certain of the Company’s current and former senior executive officers alleging violations of the federal securities laws.  The Autodesk lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired publicly traded Autodesk securities between June 1, 2023 and April 16, 2024, both dates inclusive (the “Class Period”), and investors have until June 24, 2024 to seek appointment as lead plaintiff of the Autodesk class action lawsuit. 

Autodesk is engaged in three-dimensional (3D) design, engineering, and entertainment technology solutions, spanning architecture, engineering, construction, product design, manufacturing, media, and entertainment. 

As alleged in the lawsuit, on April 1, 2024, after the market closed, the Company filed with the U.S. Securities and Exchange Commission a late filing notice on Form 12b-25 (also known as Form NT 10-K) disclosing the ongoing investigation into the Company’s free cash flow and non-GAAP operating margin practices.  On this news, the price of Autodesk stock fell $10.73 per share, or 4.13%, to close at $248.71 on April 2, 2024. 

Thereafter, after the market closed, on April 16, 2024, Autodesk issued a press release entitled “Autodesk provides update on delayed Form 10-K filing.”  It revealed that the Company would not be able to file its Form 10-K within the 15-day extension period and that the Company expected to be notified that it was not in compliance with requirements for continued listing on the Nasdaq.  On this news, the price of Autodesk stock fell $13.32 per-share, or 5.83%, to close at $214.92 on April 17, 2024. 

The Autodesk lawsuit alleges that Defendants, throughout the Class Period, made false statements and failed to disclose to investors that: (1) Autodesk lacked adequate internal controls as a result of issues with its free cash flow and non-GAAP operating margin practices; and (2) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times. 

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If you purchased or otherwise acquired publicly traded Autodesk securities between June 1, 2023 and April 16, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page.  

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com.  

The deadline to apply to the Court to serve as a lead plaintiff in the Autodesk lawsuit is June 24, 2024. 

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