San Diego, CA -- (SBWIRE) -- 10/04/2023 -- An investor, who purchased shares of CS Disco, Inc. (NYSE: LAW), filed a lawsuit over alleged violations of Federal Securities Laws by CS Disco, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of CS Disco, Inc. (NYSE: LAW) have certain options and for certain investors are short and strict deadlines running. Deadline: November 20, 2023. NYSE: LAW investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Austin, TX based CS Disco, Inc. provides cloud-native and artificial intelligence-powered legal solutions for ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments.

On August 11, 2022, CS Disco, Inc announced financial results for its second quarter ended June 30, 2022. CS Disco, Inc reported that its second quarter Revenue rose from $29.54 million in 2021 to $33.71 in the second quarter in 2022, while its Net Loss of $3.083 million in the second quarter 2021 increased to $20.17 million in the second quarter of 2022. Among other things, the company also disclosed that it would no longer be including in its guidance any revenues attributable to its largest customers for the entire year."

On February 23, 2023, CS Disco, Inc. announced financial results for its fourth quarter and fiscal year ended December 31, 2022. CS Disco, Inc. reported that its annual Total Revenue rose from $114.34 million in 2021 to $135.19 million in 2022 and that its Net Loss increased from $24.34 million in 2021 to $70.76 million in 2022.

Shares of CS Disco, Inc. (NYSE: LAW) declined from $69.41 per share on September 07, 2021, to as low as $5.27 per share on May 03, 2023.

The plaintiff claims that between July 21, 2021, and August 11, 2022, CS Disco, Inc. 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, 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 between July 21, 2021 and August 11, 2022, that it had any indication of significant headwinds to its growth.

Those who purchased shares of CS Disco, Inc. (NYSE: LAW) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.