On Tuesday, 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 the United States District Court for the Southern District of New York, alleging two counts of violating federal securities laws. The complaint alleges that DISCO, Lafair and Camara misled investors by making material, false statements indicating company growth and a positive financial position, when they knew that they had lost the business of key customers.

The complaint was first surfaced by Law.com Radar.