GitLab Inc. misled investors about its ability to create AI features that would increase market demand for its software development platform, causing a 21% decline in its stock price, an investor alleges.
GitLab and two top executives “created the false impression that they possessed reliable information pertaining to the Company’s ability to develop and incorporate AI throughout the software development cycle in order to optimize code generation,” Arlie Dolly says in a proposed class action. He filed the complaint Wednesday in the US District Court for the Northern District of California.
The company claimed that would make software development more ...
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