A US software developer facing securities fraud allegations was hit with a derivative lawsuit that said executives made false and misleading statements about its ability to create AI features and the boon they would be for the company.
GitLab Inc.’s executives, from June 2023 to June 2024, publicly pushed the company’s AI capabilities claiming it was responding to demand, provided an opportunity to make more money through an add-on to its software, and supported an increase to the price of its premium offering, according to the lawsuit filed Feb. 14 in the US District Court for the Northern District of ...
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