Investigation announced for Investors in shares of Autodesk, Inc. (NASDAQ: ADSK) over possible Violations of Securities Laws

An investigation was announced for Investors in NASDAQ: ADSK over potential securities laws violations by Autodesk, Inc.

Investors who purchased shares of Autodesk, Inc. (NASDAQ: ADSK), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Autodesk, Inc. (NASDAQ: ADSK) concerning whether a series of statements by Autodesk, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Francisco, CA based Autodesk, Inc. provides 3D design, engineering, and entertainment technology solutions worldwide. Autodesk, Inc. reported that its Total Revenue rose from over $4.38 billion for the 12 months period that ended on January 31, 2022, to over $5 billion for the 12 months period that ended on January 31, 2023, and that its Net Income over those respective time periods increased from $497 million to $823 million.

On April 1, 2024, after the market closed, Autodesk, Inc. filed with the SEC a late filing notice on Form NT 10-K. The late filing notice stated that Autodesk was unable to file its 10-K for the fiscal year ending January 31, 2024 within the prescribed time period.
Further, Autodesk, Inc. announced that "[a]fter the Company's 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. The Committee is comprised entirely of outside "independent directors" as defined by the Nasdaq Stock Market listing standards. The investigation is ongoing and all parties are working diligently to complete the investigation. The Company has voluntarily contacted the [SEC] to advise it that an internal investigation is ongoing, and the Committee intends to provide additional information to the Commission as the investigation proceeds. The Company needs further time to assist the Committee in its investigation and to review its practices in this regard."

Shares of Autodesk, Inc. (NASDAQ: ADSK) declined from $279.53 per share on March 01, 2024, to as low as $228.91 per share on April 15, 2024.

Those who purchased shares of Autodesk, Inc. (NASDAQ: ADSK) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.