On Nov. 3, e-discovery provider DISCO, along with its current CFO Michael Lafair and former CEO Kiwi Camara, were named in a class action lawsuit filed in New York state court, alleging two counts of violating federal securities laws. The complaint alleges that DISCO, Lafair and Camara misled investors through materially false and misleading statements indicating that the company was in a positive financial position and poised for explosive growth, when they knew the projected growth relied on key customers whose business the company had lost. 

The complaint was first surfaced by Law.com Radar.

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