The filed complaint alleges that defendants made false statements and/or concealed that: (i) strong, rapid growth in revenues attributed to customer usage of CS Disco's cloud-based electronic discovery platform was, in fact, attributable to just a handful of large customers; (ii) there were signific...
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The filed complaint alleges that defendants made false statements and/or concealed that: (i) strong, rapid growth in revenues attributed to customer usage of CS Disco's cloud-based electronic discovery platform was, in fact, attributable to just a handful of large customers; (ii) there were significant headwinds to growing CS Disco's revenues; (iii) CS Disco lacked advance visibility into changes in demand from individual customers over time; and (iv) as a result of the foregoing, defendants' positive statements and purported risk disclosures about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.