The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Autodesk, Inc. (ADSK)

The Law Offices of Frank R. Cruz reminds investors of the upcoming June 24, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Autodesk, Inc. (“Autodesk” or the “Company”) (NASDAQ: ADSK) securities between June 1, 2023 and April 16, 2024, inclusive (the “Class Period”).

If you are a shareholder who suffered a loss, click here to participate.

On April 1, 2024, Autodesk disclosed that it would be unable to timely file its annual report due to “an internal investigation with the assistance of outside counsel and advisors, regarding the Company’s free cash flow and non-GAAP operating margin practices.”

On this news, Autodesk’s stock price fell $10.73, or 4.1%, to close at $248.71 per share on April 2, 2024, thereby injuring investors.

Then, on April 16, 2024, the Company disclosed that it would be unable to file its annual report within the 15-day extension period due to the ongoing investigation.

On this news, Autodesk’s stock price fell $13.32, or 5.8%, to close at $214.92 per share on April 17, 2024, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Autodesk, Inc. 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’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Autodesk securities during the Class Period, you may move the Court no later than June 24, 2024 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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