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Sun. Jul 14th, 2024

SHAREHOLDER ALERT: Pomerantz Law Firm announces the filing of a class action against Autodesk, Inc.

By Vaseline May30,2024

NEW YORK, May 30, 2024 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against Autodesk, Inc. (“Autodesk” or the “Company”) (NASDAQ: ADSK). Such investors are advised to get in touch Danielle Peyton bee (email protected) or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those inquiring by email are encouraged to include their mailing address, telephone number and the number of shares purchased.

The class action concerns whether Autodesk and certain of its officers and/or directors engaged in securities fraud or other unlawful business practices.

You have until June 24, 2024, to ask the Court to appoint you as lead plaintiff for the class if you are a shareholder who purchased or otherwise acquired Autodesk securities during the Class Period. You can obtain a copy of the complaint aT www.pomerantzlaw.com.

(Click here for information about joining the class action)

On April 1, 2024Autodesk has filed a late filing notice with the U.S. Securities and Exchange Commission, stating that the company is “unable to file its Annual Report on Form 10-K for the past year January 31, 2024 . . . within the prescribed period, without unreasonable effort or expense.” Autodesk specifically disclosed that “(a)after the announcement of the Company’s earnings on February 29, 2024information was brought to the attention of management, who immediately notified the Audit Committee (the “Committee”) of the Company’s Board of Directors, which resulted in the Committee initiating 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 per share, or 4.14%, to close $248.71 per share April 2, 2024.

Then, on April 16, 2024Autodesk issued a press release with an update on the internal investigation, stating that it “will not file its annual report… within the fifteen day extension period… due to the ongoing investigation” and accordingly “expects to receive a response notification of The Nasdaq Stock Market that it has failed to meet the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1).

On this news, Autodesk’s stock price fell $13.32 per share, or 5.84%, to close $214.92 per share April 17, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, ParisAnd Tel Aviv, is recognized as one of the premier firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz was a pioneer in the field of class action securities. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of securities law victims. fraud, breaches of fiduciary duty and corporate misconduct. The company has recovered billions of dollars in damages on behalf of class members. See www.pomlaw.com.

Advertising lawyer. Previous results do not guarantee comparable results.

CONTACT:
Danielle Peyton
Pomerantz LLP
(email protected)
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

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