If you suffered losses in Adobe stock, contact Adobestock loss lawyer Timothy L. Miles about an Adobeclass action lawsuit
Everything You Need to Know about the Adobe Class Action Lawsuit
The Adobe class action lawsuit seeks to represent purchasers or acquirers of Adobe Inc. (NASDAQ: ADBE) common stock between July 23, 2021 and September 15, 2022, inclusive (the “Class Period”). Captioned Pembroke Pines Firefighters & Police Officers Pension Fund v. Adobe Inc., No. 23-cv-09260 (S.D.N.Y.), the Adobe class action lawsuit charges Adobe and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934. If you suffered losses in Adobestock and wish to serve as lead plaintiff in the Adobeclass action lawsuit, please contact Adobe Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Adobe class action lawsuit must be filed with the court no later than December 19, 2023.
Allegations in the Adobe Class Action Lawsuit
dobe is a software company that offers tools on a subscription basis for, among other things, sharing documents, editing pictures, and designing web pages.
The Adobe class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Figma, which provides a simple web-based tool for designing user interfaces, was growing its market share and was becoming a leader in user experience design; (ii) Figma was in direct competition with Adobe on user experience design; (iii) Adobe’s product “Express” was not an effective counter to Figma’s growing market share in bringing new customers to Adobe’s paid offerings; (iv) Adobe’s other offerings were not succeeding in competing with Figma on user experience design; and (v) Adobe was losing market share to Figma.
The Adobe class action lawsuit further alleges that on September 15, 2022, Adobe announced that it had entered into an agreement to acquire Figma for $20 billion in cash and stock. The Adobe class action lawsuit alleges that on news of the deal, the price of Adobe stock fell nearly 17%.
WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE Adobe CLASS ACTION LAWSUIT?
When a securities class action is filed such as the Adobe class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Adobe class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.
WHAT ARE MY CHOICES IF I RECEIVE A NOTICE IN THE Adobe CLASS ACTION LAWSUIT?
First, read the notice very carefully. You have two choices. First, you can do nothing and remain a member of the class represented by lead counsel. Second, if you believe you have a large enough loss to justify it, you can opt out of the Adobe class action lawsuit and file your own separate lawsuit. Note, that if you opt out, you will not be able to participate in any settlement or recovery obtained in the Adobe class action lawsuit.
IF I RECEIVE A SETTLEMENT FROM FINRA CAN I STILL PARTICIPATE IN THE ADOBE LAWSUIT?
Yes, the acceptance of restitution or compensation from a FINRA regulatory settlement does not waive your right to monetary or other benefits through the courts, arbitration, or mediation. Therefore, even if you received a settlement from FINRA, you can still participate in the Adobe lawsuit.
what is the lead plaintiff process in the Adobe class action lawsuit?
If you suffered losses in Adobe stock, call an Adobe
Stock Loss Lawyer about a Adobe class action lawsuit
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Adobe stock and have further questions, contact Adobe stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in an Adobe class actionlawsuit if you suffered losses in Adobe stock.
Can a Non-U.S. Investor Serve as Lead Plaintiff in the Adobe Class action lawsuit if they suffered losses in Adobe stock?
Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred in the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reformresulting from the litigation.
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Adobeif you suffered losses in Adobe stock.
WHAT RESPONSIBILITIES WILL THE LEAD PLAINTIFF HAVE IN THE ADOBE CLASS ACTION LAWSUIT?
A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the Adobe class action lawsuit. Some of the responsibilities of the Lead Plaintiff in the Adobe class action lawsuit include:
Selecting, monitoring, and overseeing Lead Counsel.
Reviewing and commenting on court filings on behalf of the class.
Discussing litigation strategies with the Lead Counsel.
Attending depositions (if necessary) and giving a deposition.
Attending hearings (if necessary).
Participating in mediation and the trial (if necessary).
Provide input on any decision concerning the settlement of the securities class action.
Can I Be Appointed Lead Plaintiff in the Adobe Class Action Lawsuit if I Purchased Shares Outside of the Class Period?
Will the Lead Plaintiffs Get More Money than Class Members if the Adobe Class Action Lawsuit?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Adobeclass action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Adobe class action lawsuit on behalf of investors who suffered losses in Adobe stock.
Can I Be Lead Plaintiff in the Adobe class action lawsuit if I am Lead Plaintiff in Another Case?
How Was the Class Period Determined in the Adobe lawsuit?
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.
In order to be a part of the class in the Adobe lawsuit, you must have suffered losses in Adobe stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Adobe.
CAN I SELL MY STOCK AND STILL BE A MEMBER OF THE CLASS IN THE Adobe CLASS ACTION LAWSUIT?
Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the Adobe class action lawsuit.
How Can an Adobe Stock Loss Lawyer Help Me if I Suffered Losses in Adobe Stock?
An Adobe stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.