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ADSK.US
id: 1200

Autodesk (ADSK) Internal Control Issues Case

N.D. California
Court
4:24-cv-02431
Case number
01 Jun 2023
Class period Start
16 Apr 2024
Class period End
24 Jun 2024
Lead Plaintiff motion deadline
  • $ADSK stockholder filed a claim vs. Autodesk for failing to disclose that it had internal control problems with its cash flow and operating margin practices.
  • When the news about these issues came out, $ADSK fell 5%, losing $917M+ of shareholder value.
  • Autodesk investors can join this case to be notified about the potential recovery.
On April 1, 2024, Autodesk notified the SEC of a late filing due to an internal investigation into its free cash flow and non-GAAP operating margin practices.

Following the news, $ADSK dropped 4% the next day.

Then, on April 16, 2024, Autodesk announced it couldn't submit its Form 10-K within the extended 15-day period granted by the SEC.

After that, $ADSK dropped 5% on April 17, 2024.

Based on these events, investors have reasons to suspect that Autodesk didn't disclose its lack of proper controls due to issues with its cash flow and operating margin practices.

One of ADSK's investors has already filed a claim vs. Autodesk in N. D. California court.
Case Status
Lead Plaintiff Submission
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
18 April 2024
Filing date
24 April 2024
Lead Plaintiff Deadline
24 June 2024
Judge
Yvonne Gonzalez Rogers
Collecting participants…

Autodesk Inc

Autodesk, Inc. provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for ...

    Ticker
    ADSK.US
    ISIN
    US0527691069
    CIK
    769397
    Sector
    Technology
    Industry
    Software - Application
    Country
    USA
    Address
    One Market Street, San Francisco, CA, United States, 94105