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  "documentTitle": "Autodesk, Inc. (ADSK)",
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  "authorName": "Jeffrey Smith",
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      "text": "Autodesk's recently concluded Investigation makes clear the extent to which the Company misled shareholders.",
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      "text": "view that Autodesk’s Board would benefit from new directors that would bring fresh perspectives and provide shareholders with increased comfort regarding the Board’s independence and focus on shareholders’ best interests.",
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      "text": "Following the Investigation, it has now come to light that the Company’s actual billings practices differed materially from what it had communicated to investors.",
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      "text": "Autodesk’s recently concluded Investigation makes clear the extent to which the Company misled shareholders. The findings of the Investigation show that Autodesk intentionally misled investors on its billings practices as it manipulated free cash flow.",
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      "kind": "paragraph",
      "text": "As such, we are filing a lawsuit today in the Delaware Court of Chancery. Our lawsuit asks the Delaware Court of Chancery to compel the Company to delay Autodesk’s 2024 Annual Meeting...",
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      "text": "Our strong start to the year means we're also shifting more of our EBA customers from multiyear paid upfront to annual billings... And also, we had already assumed that EBAs would all be on annual billing terms starting next year in our fiscal '23.",
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      "text": "\"Our strong start to the year means we're also shifting more of our EBA customers from multiyear paid upfront to annual billings, which is good for them and good for Autodesk... While we had already assumed this change in fiscal '23, it has a modest impact on fiscal '22 billings and free cash flow... Most EBAs are already on annual billing terms. And also, we had already assumed that EBAs would all be on annual billing terms starting next year in our fiscal '23. We're making the change now because with the strong start to fiscal '22, we decided to get moving earlier to execute on the shift.\" — CFO Deborah Clifford, Q2 FY2022 Earnings Call",
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