Class Action Lawsuit Filed Against MongoDB, Inc.Class Action Lawsuit Filed Against MongoDB, Inc. New York City, NY / July 18, 2024 – Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, announces that a class action lawsuit has been filed against MongoDB, Inc. and certain of its officers. Class Period: August 23, 2023 – May 30, 2024 Allegations: * The defendants violated federal securities laws. * The company’s statements about its financial performance and prospects were materially false or misleading. * The defendants failed to disclose the true impact of changes to its sales incentive structure and marketing strategy on its revenue. Case Details: * A lawsuit has been filed, and a copy of the complaint can be obtained at bgandg.com/MDB. * Investors who purchased or acquired MongoDB securities during the Class Period are encouraged to join the case. * The deadline to ask the court to appoint you as lead plaintiff is September 9, 2024. Financial Losses: * On March 7, 2024, MongoDB’s stock fell $28.59 per share after the company reported lower-than-expected financial results. * On May 30, 2024, the company further lowered its full-year forecast, causing its stock to fall $73.94 per share. Representation: Bronstein, Gewirtz & Grossman, LLC represents investors in class actions on a contingency fee basis. They will ask the court to reimburse them for out-of-pocket costs and attorneys’ fees, usually a percentage of the total recovery, only if they are successful. Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller 332-239-2660 (e-mail address) Source: Bronstein, Gewirtz & Grossman, LLC
NEW YORK CITY, NY / ACCESSWIRE / July 18, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, informs investors that a class action lawsuit has been filed against MongoDB, Inc. (“MongoDB” or “the Company”) (NASDAQ:MDB) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired MongoDB securities between August 23, 2023 and May 30, 2024, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s website at bgandg.com/MDB.
Case details
The complaint alleges that on March 7, 2024, MongoDB reported strong Q4 2024 results and then announced a lower-than-expected full-year 2025 forecast. The complaint adds that the company attributed this to a change in its “sales incentive structure,” which led to a decline in revenue related to “unused commitments and multi-year licensing agreements.” Following this news, MongoDB’s stock fell $28.59 per share, closing at $383.42. Subsequently, on May 30, 2024, MongoDB further lowered its full-year 2025 forecast, attributing it to “macro impacts on consumption growth.” Analysts commenting on the lowered forecast questioned whether changes to the company’s marketing strategy “led to changes in customer behavior and usage patterns.” Following this news, MongoDB’s stock fell $73.94 per share, closing at $236.06.
What’s next?
A class action lawsuit has already been filed. To view a copy of the complaint, visit the firm’s website at bgandg.com/MDB or contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in MongoDB, you have until September 9, 2024 to ask the court to appoint you as lead plaintiff. Your ability to share in any recovery does not require that you serve as lead plaintiff.
It costs you nothing
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket costs and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm representing investors in securities fraud class actions and shareholder derivative lawsuits. Our firm has recovered hundreds of millions of dollars for investors across the country.
Advertisement from lawyer. Previous results do not guarantee similar outcomes.
Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | (e-mail address)
SOURCE: Bronstein, Gewirtz & Grossman, LLC
