NEW YORK, July 14, 2024 (GLOBE NEWSWIRE) –
WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of MongoDB, Inc. (NASDAQ: MDB) between August 31, 2023 and May 30, 2024, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than 9 September 2024.
SO WHAT: If you purchased MongoDB securities during the Class Period, you may be entitled to compensation without payment of any out-of-pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the MongoDB class action lawsuit, 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] for information about the class action lawsuit. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court by 9 September 2024 at the latestA lead plaintiff is a representative party directing the litigation on behalf of other class members.
WHY ROSEN LAW: We encourage investors to select qualified attorneys with a track record of success in leadership roles. Often, the firms that file lawsuits do not have comparable experience, resources, or significant peer recognition. Choose your attorneys wisely. The Rosen Law Firm represents investors around the world and focuses on securities class actions and shareholder derivatives litigation. The Rosen Law Firm has achieved the largest securities class action settlement against a Chinese company. The Rosen Law Firm was ranked No. 1 in 2017 by ISS Securities Class Action Services for number of securities class action settlements. The firm has been ranked in the top 4 every year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone, the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named a Titan of Plaintiffs’ Bar by law360. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
CASE DETAILS: According to the lawsuit, throughout the class period, MongoDB reported strong fourth-quarter 2024 results and then announced lower-than-expected full-year 2025 guidance. MongoDB attributed this to a change in its “sales incentive structure” that resulted in a decline in revenue related to “unused commitments and multi-year licensing agreements.” Following this news, MongoDB’s stock price fell $28.59 per share to close at $383.42. On May 30, 2024, MongoDB then further lowered its full-year 2025 guidance, attributing it to “macroeconomic impacts on consumer growth.” Analysts commenting on the reduced guidance questioned whether changes to the company’s marketing strategy “led to changes in customer behavior and usage patterns.” Following this news, MongoDB’s stock price fell $73.94 per share to close at $236.06. When the true details came to market, the lawsuit alleges that investors suffered damages.
To join the MongoDB class action lawsuit, 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] for information about the class action lawsuit.
No class action has been certified. Until a class action is certified, you will not be represented by counsel unless you hire one. You may select counsel of your choice. You may also remain as an absent class member and take no action at this time. An investor’s ability to share in any potential future recovery is not dependent on serving as lead plaintiff.
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Contact information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Law Firm of Rosen, PA
275 Madison Avenue, 40th floor
New York, NY 10016
Phone: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com
