MDB Investors Have Opportunity to Lead MongoDB, Inc. Securities Fraud Lawsuit

PRNewswire 14-Aug-2024 5:22 PM

LOS ANGELES, Aug. 14, 2024 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against MongoDB, Inc. ("MongoDB" or the "Company") (NASDAQ:MDB).

Class Period: August 31, 2023 – May 30, 2024

Lead Plaintiff Deadline: September 9, 2024

If you wish to serve as lead plaintiff of the MongoDB lawsuit, you can submit your contact information at www.glancylaw.com/cases/MongoDB-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) MongoDB's sales force restructure, which prioritized reducing friction in the enrollment process, had resulted in complete loss of upfront commitments, a significant reduction in the information gathered by their sales force as to the trajectory for the new Atlas enrollments, and reduced pressure on new enrollments to grow; and (2) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.  If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com

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SOURCE Glancy Prongay & Murray LLP