class action lawsuits filed against GitLab, Agenus, and ZoomInfo in September 2024

In September 2024, Bragar Eagel & Squire, P.C., a law firm specializing in shareholder rights, announced the filing of class action lawsuits against GitLab Inc., Agenus Inc., and ZoomInfo Technologies Inc. These lawsuits were initiated on behalf of stockholders who believe they were misled by the companies' executives regarding their business operations and financial prospects. Each company faces allegations of providing false or misleading information that inflated their stock prices, ultimately leading to significant declines when the truth emerged. For GitLab, the class period spans from June 6, 2023, to March 4, 2024, during which the company allegedly misrepresented its ability to develop AI features and meet growth expectations. Following a disappointing earnings report, GitLab's stock plummeted by approximately 21% in a single day, raising concerns among investors about the company's future. Agenus, with a class period from January 23, 2023, to July 17, 2024, is accused of overstating the effectiveness of its combination therapy involving botensilimab and balstilimab. The lawsuit claims that the company failed to disclose critical information regarding the therapy's clinical results and regulatory prospects, leading to misleading public statements. ZoomInfo's class period extends from November 10, 2020, to August 5, 2024. The allegations against ZoomInfo include claims of inflated financial results due to temporary pandemic effects and coercive practices to retain customers. These actions reportedly damaged customer relationships and created a hidden demand cliff for future contract renewals, further complicating the company's financial outlook.