Amplitude, Inc. Hit with Class Action Lawsuits for Securities Fraud

Investors allege misleading growth forecasts and insider stock sales prior to a significant share price drop.

Amplitude, Inc. faces class action lawsuits over alleged securities fraud, with investors encouraged to join before the April 15, 2024 deadline.
The lawsuits claim Amplitude misled investors about its growth prospects and land-and-expand strategy's effectiveness.
Amplitude's stock price plummeted nearly 59% following a revision of its 2022 revenue forecast and admissions regarding its growth strategy.
Senior management and insiders allegedly sold over $275 million in Amplitude stock at inflated prices before the stock price crashed.
Investors suffered significant losses as Amplitude's stock value dropped nearly 80% from its peak during the class period.