The Gross Law Firm Notifies MongoDB, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline - MDB

PRNewswire 25-Jul-2024 5:45 AM

NEW YORK, July 25, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of MongoDB, Inc. (NASDAQ:MDB).

Shareholders who purchased shares of MDB during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/mongodb-inc-loss-submission-form/?id=91984&from=4

CLASS PERIOD: August 31, 2023 to May 30, 2024

ALLEGATIONS: According to the complaint, on March 7, 2024, MongoDB reported strong Q4 2024 results and then announced lower than expected full-year guidance for 2025. MongoDB attributed it to the Company's 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 price fell by $28.59 per share to close at $383.42 per share.  Later, 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 if changes made to the Company's marketing strategy "led to change in customer behavior and usage patterns."  Following this news, MongoDB's stock price fell by $73.94 per share to close at $236.06 per share.

DEADLINE: September 9, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/mongodb-inc-loss-submission-form/?id=91984&from=4

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of MDB during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is September 9, 2024. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903

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SOURCE The Gross Law Firm