Amplitude, Inc. Faces Multiple Securities Fraud Lawsuits

The lawsuits allege misleading statements about the company's growth strategy and financial prospects, leading to significant investor losses.

A securities fraud class action lawsuit has been filed against Amplitude, Inc. for alleged violations of federal securities laws.
The lawsuit claims Amplitude made materially misleading statements and omissions about its business operations and prospects.
Investors who purchased Amplitude stock between September 21, 2021, and February 16, 2022, may seek to be appointed as lead plaintiff.
The lawsuits allege that Amplitude's land-and-expand strategy was years away from significantly accelerating revenues.
Amplitude's stock price plummeted nearly 59% following the revision of its 2022 revenue guidance and revelations about its growth strategy.