GitLab Inc. overcame allegations that the software development platform overhyped its artificial intelligence capabilities before releasing disappointing financial projections.
The investor leading the proposed class didn’t sufficiently allege actionable misstatements on AI or customer demand were materially misleading, Judge Eumi K. Lee said Thursday. Many of the alleged misrepresentations were forward-looking or corporate puffery, making them nonactionable to begin with, she said for the US District Court for the Northern District of California.
None of the most recent complaint’s allegations contradicted GitLab’s statements on demand for AI features, Lee said. Nor did it adequately plead the company left out information ...
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