According to the Complaint, GitLab Inc. is a global software company that designs and develops software solutions. GitLab offers a platform for authentication, authorization, DeVops score, audit and value stream management. This lawsuit was filed against Gitlab and two of its Officers.

During the Class Period, Defendants provided investors with material information concerning GitLab's expected revenue for the fiscal year 2025. The Complaint alleges that Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning GitLab’s ability to develop AI features that would generate code more efficiently and increase market demand for its DevSecOps platform.

On March 4, 2024, when GitLab issued a press release reporting a strong Q1 in 2024, followed by an announcement lowering full-year guidance for 2025. Investors and analysts reacted immediately to GitLab’s revelation and the price of GitLab’s common stock declined dramatically. Plaintiff brings this action on behalf of a Class, consisting of all those who purchased or otherwise acquired GitLab's securities during the Class Period and were damaged upon the revelation of the alleged corrective guidance.

On December 23, 2024, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on February 5, 2025. On March 7, Lead Plaintiff filed a second amended Complaint.