Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Adobe Inc. (“Adobe” or “the Company”) (NASDAQ: ADBE). Investors who purchased Adobe securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Adobe has violated federal securities laws.
Investigation Details
On September 12, 2024, Adobe issued a press release reporting financial results for the third quarter of its fiscal year 2024. Although Adobe reported net new annual recurring revenue of $44 million, exceeding guidance, its fourth quarter outlook fell short of consensus estimates by approximately $21 million. Following this news and expressions of concern by investors and analysts, Adobe’s stock price fell $49.68, or 8.47%, to close at $536.87 per share on September 13, 2024.
What’s Next?
If you are aware of any facts relating to this investigation or purchased Adobe securities, you can assist this investigation. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
ADBE — Stock Performance
About Bronstein, Gewirtz & Grossman, LLC
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace.”