According to the Complaint, Defendants failed to disclose to investors that Autodesk, Inc. lacked adequate internal controls as a result of issues with its free cash flow and non-GAAP operating margin practice.

On April 1, 2024, after the market closed, the Company announced that it was “unable to file its Annual Report on Form 10-K for the year ended January 31, 2024…within the prescribed time period, without unreasonable effort or expense.”  The Company also announced that after its “earnings release on February 29, 2024, information was brought to the attention of management, which promptly informed the Audit Committee (the “Committee”) of the Board of Directors of the Company, that caused the Committee to commence an internal investigation with the assistance of outside counsel and advisors, regarding the Company’s free cash flow and non-GAAP operating margin practices.”  On this news, the price of Autodesk stock fell $10.73 per share, or 4.13%, to close at $248.71 on April 2, 2024.

Then, on April 16, 2024, after the market closed, the Company revealed that it would not be able to file its 10-K within the 15-day extension period.

On this news, Autodesk’s stock price fell $13.32 per share, or 5.83%, to close at $214.92 on April 17, 2024.

If you wish to serve as lead plaintiff, you must move the Court no later than June 24, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

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