The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Amplitude, Inc. (AMPL) Investors

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Amplitude, Inc. (“Amplitude” or the “Company”) (NASDAQ: AMPL) securities between September 21, 2021 and February 16, 2022, inclusive (the “Class Period”). Amplitude investors have until April 15, 2024 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On February 16, 2022, Amplitude released its fourth quarter 2021 financial results, revealing that its land-and-expand strategy would “take a few years” to accelerate results despite prior assurances of sustainable growth. The Company also lowered its 2022 fiscal guidance.

On this news, Amplitude’s stock price fell $24.51, or 58.9%, to close at $17.10 per share on February 17, 2022, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Amplitude’s land-and-expand strategy was years away from significantly accelerating revenues among its newer client cohorts; (2) that the rapid acceleration in the Company’s 2Q21 results resulted from the ephemeral effects of the COVID-19 pandemic which had not continued by the start of the Class Period, as Amplitude clients were expanding at a slower pace; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased Amplitude securities during the Class Period, you may move the Court no later than April 15, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Amplitude securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240223765781/en/

The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Amplitude, Inc. (AMPL) Investors