MDB Investors Have Opportunity to Lead MongoDB, Inc. Securities Fraud Lawsuit
NEW YORK, July 28, 2024 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds investors a shareholder filed a class action lawsuit on behalf of all purchasers of securities of MongoDB, Inc. (NASDAQ: MDB) between August 31, 2023 and May 30, 2024. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 9, 2024.
To join the MongoDB class action, go to https://rosenlegal.com/submit-form/?case_id=27182 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected].
The Rosen Law Firm is investigating the Allegations that MongoDB, Inc. (NASDAQ: MDB) Misled Investors Regarding its Business Operations.
According to the lawsuit, throughout the Class Period, MongoDB reported strong Q4 2024 results and then announced lower than expected full-year guidance for 2025. MongoDB attributed to a change in its "sales incentive structure," which led to a decrease in revenue related to "unused commitments and multi-year licensing deals." Following this news, MongoDB's stock dropped $28.59 per share to close at $383.42. Then, on May 30, 2024, MongoDB further lowered its guidance for the full year 2025, attributing it to "macro impacting consumption growth." Analysts commenting on the reduced guidance questioned whether changes to the Company's marketing strategy "led to change in customer behavior and usage patterns." Following this news, MongoDB's stock dropped $73.94 per share to close at $236.06. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against MongoDB, Inc. The deadline to file a motion to be appointed as lead plaintiff is September 9, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, go to https://rosenlegal.com/case/mongodb-inc/
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com
SOURCE THE ROSEN LAW FIRM, P. A.
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