CS Disco hits record low as CRO resigns, Jefferies halves PT

CS Disco

26/09/2022 16:36

** Shares of legal software firm CS Disco Inc  LAW.N  hits
record low after plunging 10.9% to $10.05; among top pct.
decliners across U.S. exchanges
    ** Chief Revenue Officer Andrew Shimek will resign effective
Oct. 31, co said in filing on Friday post-close
    ** LAW says Shimek will serve in a non-officer employee role
from Nov. 1 to Dec. 31 as part of transition
    ** Jefferies ("hold") cuts PT to $12 from $25, saying the
"timing was strange with one week left to go in the quarter and
raises questions about GTM execution challenges seen in the last
quarter"
    ** Last month, co cut its full-year revenue forecast, citing
demand volatility for its services  urn:newsml:reuters.com:*:nL4N2ZO2RN
    ** Stock has fallen 69% YTD through last close
 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))