NEW YORK, NY - 
(NewMediaWire) - May 13, 2024 - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) reminds investors that a complaint has been filed on behalf of purchasers or acquirers of Autodesk, Inc. (“Autodesk” or the “Company”) (NASDAQ: ADSK) securities between June 1, 2023 and April 16, 2024 (the “Class Period”). Click Here to Join Investigation.
Deadline Reminder: If you are a member of the proposed Class, you may move the court no later than June 24, 2024 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
The Class Period begins on June 1, 2023, when Autodesk filed with the SEC its quarterly report on Form 10-Q for the period ended April 30, 2023. Therein, and throughout the Class Period, according to the complaint, Defendants assured investors as to the accuracy of financial reporting, the disclosure of any material changes to the company's internal control over financial reporting and the disclosure of all fraud.
Then, on April 1, 2024, Autodesk disclosed that the Company 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."
Following this news, the price of Autodesk stock fell $10.73 per share, or 4.1%, to close at $248.71 per share on April 2, 2024.
On April 16, 2024, Autodesk issued a press release providing an update on the internal investigation, stating that the company "will not file its Annual Report…within the 15-day extension period…due to the ongoing investigation" and "expects to receive a notice from the Nasdaq Stock Market…that it is not in compliance with the timely filing requirement for continued listing under Nasdaq" listing rules.
Following this news, the price of Autodesk stock fell $13.32 per share, or 5.8%, to close at $214.92 per share on April 17, 2024.
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If you have any questions about this investigation, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
