AUSTIN - CS Disco (OTC:DSCSY), Inc. (NYSE:LAW), a legal technology company, announced today that its Board of Directors has approved a share repurchase program, giving the company the green light to buy back up to $20 million of its outstanding common stock.
The initiative stems from the company's belief that its shares are currently undervalued, according to CEO Scott Hill. He stated that the repurchase program represents a strategic use of the company's capital and demonstrates its dedication to increasing shareholder value.
The repurchase of shares will be conducted on an opportunistic basis, depending on various factors, including current stock prices, market conditions, and other economic indicators.
The company may execute these buybacks through open market purchases or via a Rule 10b5-1 trading plan, which allows companies to repurchase shares at times when they might otherwise be prevented from doing so due to insider trading laws or self-imposed trading blackout periods.
It is important to note that the program does not have a specified conclusion date and does not commit CS Disco to purchase any specific number of shares. The company retains the flexibility to pause or terminate the buyback plan at any time according to its discretion.
CS Disco, headquartered in Austin, Texas, specializes in providing cloud-native, AI-powered legal solutions designed to streamline operations for legal departments, law firms, legal service providers, and government entities.
Their suite of products assists in legal hold, legal request, ediscovery, legal document review, and case management tasks, facilitating the handling of enterprise data related to legal matters.
The repurchase program is part of the company's capital allocation strategy and is based on a press release statement from CS Disco, Inc. The company's decision to move forward with the stock buyback reflects its confidence in the intrinsic value of its shares and its commitment to managing capital in a way that can benefit its stockholders.
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