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11thestate, a Platform That Connects Investors and Attorneys in Securities Class Action Cases, Announces a New Case on Suspected Violations in Adobe Inc. (ADBE)

Published: 2022-09-19 14:52:00 ET

New York, New York--(Newsfile Corp. - September 19, 2022) - 11thestate, Leading Securities Class Action Cases Platform, Announces a new Case on suspected violations by Management and Directors of Adobe Inc. (NASDAQ: ADBE). This Case may concern investors who held the Long Stocks position of Adobe Inc. (ADBE) on 15-September-2022.

If you suffered a loss on your Long Stocks position of Adobe Inc. (ADBE) on 15-September-2022 you can Join the Case at https://11thestate.com/cases/286.

CASE DESCRIPTION

On September 15, 2022, Adobe (ABDE) released 2 breaking news, particularly, announced earnings and a $20 bn. deal with online design tools maker Figma.

The Company released a mixed Q2 2022 financial report that topped earnings, but sales were below expectations.
Despite the weak and uncertain economic environment, Adobe (ABDE) decided to make a high-priced acquisition of online design tools maker Figma for $ 20 bn cash and stock.

On this news, Adobe (ABDE) stock plunged more than 15% and lost over $25 billion of its capitalization, seriously damaging investors.

Moreover, back on September 13, 2022, the price of the Company's shares lost 7% or about $13 billion of capitalization without significant news.

Assessing the need for an expensive purchase of Figma, it is important to note that one of Adobe's flagship products, Adobe XD, could no longer compete with Figma. Even though Adobe XD was released earlier than its competitor and the Company had much more significant resources for product development, the competition was lost. As a result, the only way not to lose market share was to take over the Competitor at a high price.

Taking all the facts, history and the respective market reaction into account, there are reasons to suspect that Adobe's (ABDE) Leaders have made and, maybe, are making faults in management and are trying to compensate for them at the expense of the Company and its shareholders, breaching their fiduciary duties.

If you suffered a loss on your Long Stocks position of Adobe Inc. (ADBE) on 15-September-2022 you can join the Case at https://11thestate.com/cases/286.

Disclosures.

11thestate is not providing legal advice and legal services as well as is not and will never be involved in class action lawsuits, court hearings, initiate court hearings, register actions, or qualify actions as class actions. The Case refers to a detailed description of the securities-related situation that could potentially be recognized as a violation of the rights of investors and potentially lead to legal proceedings. The Case itself is neither evidence of any violations nor an incentive for investors to act, nor grounds or inducement for initiating or engaging in any legal proceedings.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137467

SOURCE 11thestate

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.