Twersky Law Group, a highly regarded and reputable law firm based in New York, wishes to inform investors about a significant development in the form of a class action lawsuit against CS Disco, Inc. (“CS Disco” or “the Company”) (NASDAQ: LAW) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that purchased or otherwise acquired CS Disco securities from July 18, 2021 through August 11, 2022 (the “Class Period”). Investors who acquired CS Disco securities during this defined timeframe are strongly encouraged to participate in this case by contacting atara@twerskylawgroup.com. The deadline to file a motion for appointment of lead plaintiff is November 20, 2023.
The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased CS Disco securities during the Class Period, the losses they sustained as a consequence of the misleading statements made by Defendants in violation of the federal securities laws.
ALLEGATIONS AGAINST CS DISCO, INC.
The complaint alleges that during the Class Period, “CS Disco repeatedly touted strong growth in its revenues attributable to customer usage of its cloud-based electronic discovery platform and asserted that it had good advance visibility into changes in the demand from individual customers over time.” The complaint also alleges that “[w]hile the Company also acknowledged that its rapid revenue growth was ‘usage driven’ and may be subject to volatility, it did not inform investors during the Class Period that it had any indication of significant headwinds to its growth.” The complaint further alleges that “[t]he truth began to emerge on August 11, 2022, when CS Disco released financial results for the second quarter of 2022 that shocked investors and analysts alike. Not only did the Company’s revenue growth taper drastically [as compared to] past quarters, but the Company alerted the markets that it would no longer be including in its guidance any revenues attributable to its largest customers for the entire year.” On August 12, 2022, CS Disco common shares fell 53% on heavy volume.
ABOUT CS DISCO, INC.
- CS Disco, Inc. is a legal technology company that provides software solutions for the legal industry, particularly in the area of electronic discovery (eDiscovery) and litigation support. Please note that there may have been developments or changes related to CS Disco since that time, so I recommend checking the latest information to ensure accuracy. Here is some general information about CS Disco and what is offers as a company:
- Founding and Headquarters: CS Disco was founded in 2011 by Kiwi Camara and Kent Radford. The company is headquartered in Houston, Texas, USA.
- eDiscovery Software: CS Disco offers a cloud-based platform that assists law firms, corporations, and government agencies in managing large volumes of electronic documents and data during the legal discovery process. This software helps legal professionals to review, analyze, and produce relevant documents and information for litigation and investigations efficiently.
- Features: The platform typically includes features such as document review and analysis, predictive coding, data processing, search and retrieval tools, document management, and collaboration tools. It aims to streamline the eDiscovery process, reduce costs, and improve efficiency in legal proceedings.
- Machine Learning and AI: CS Disco leverages artificial intelligence and machine learning technologies to enhance document review and prioritization. This can help legal teams identify key documents more quickly and make more informed decisions.
- User-Friendly Interface: The company has emphasized user-friendliness and ease of use in its software, making it accessible to legal professionals with varying levels of technical expertise.
- Customer Base: CS Disco serves a wide range of clients, including law firms, corporate legal departments, and government agencies. Its software is used in various types of litigation, investigations, and regulatory compliance matters.
- Security and Compliance: Given the sensitive nature of legal data, CS Disco places a strong emphasis on security and compliance with data protection regulations.
- Updates and Innovation: Legal technology is a rapidly evolving field, and companies like CS Disco continually update their software to keep up with industry trends and regulatory changes.
JOIN THIS CASE
It is important to note that a class action lawsuit has already been filed in connection with these allegations. Therefore, for those individuals who suffered financial losses in their investments in CS Disco during the Class Period, there is a limited opportunity to seek appointment as a lead plaintiff. This process entails requesting the Court to designate them as the primary representative on behalf of the entire class. The deadline for submitting such a request is November 20, 2023. It is important to emphasize that while becoming a lead plaintiff can offer certain advantages, participation in the recovery process and the potential for financial compensation does not mandate serving as a lead plaintiff.
Twersky Law Group, a distinguished legal firm renowned for its attorneys expertise in handling securities fraud class actions and shareholder derivative suits, who have a long-standing track record of successfully recovering significant sums of money for investors nationwide. With an unwavering commitment to seeking justice for their clients, the firm’s attorneys are resolute in pursuing fair compensation on behalf of those affected by alleged securities law violations. As with any legal matter, it is essential to understand that this announcement constitutes attorney advertising. Past case outcomes and results achieved do not guarantee similar outcomes in this particular case.
Investors who believe they may qualify as potential class members in the class action lawsuit against CS Disco are strongly encouraged to reach out directly to the firm for further information and assistance. The knowledgeable legal professionals at Twersky Law Group stand ready to provide guidance and support to investors seeking to protect their rights and pursue the recovery they deserve.
