NEW YORK, Oct. 27, 2023 (GLOBE NEWSWIRE) — Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Adobe Inc. (“Adobe” or the “Company”) (NASDAQ: ADBE) for violations of the federal securities laws on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Adobe securities between July 23, 2021 and September 15, 2022, both dates inclusive (the “Class Period”).
On October 20, 2023, a complaint was filed against the Company and certain of its officers alleging that throughout the Class Period, defendants 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.
When investors learned the truth, Adobe’s common stock declined precipitously, injuring investors.
If you suffered a loss of more than $300,000 in Adobe’s securities, and wish to participate, or learn more, click here, or please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).
Any investor who wishes to serve as Lead Plaintiff must act before December 19, 2023.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg P.C.
