Faruqi & Faruqi, LLP investigates claims on behalf of MongoDB investors

If you purchased or acquired securities in the form of MongoDB shares or options between August 31, 2023 and May 30, 2024 and would like to discuss your legal rights, Call Faruqi & Faruqi Partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (extension 1310). For more information you can also click here: www.faruqilaw.com/MDB.

New York, New York–(Newsfile Corp. – July 14, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against MongoDB, Inc. (“MongoDB” or the “Company”) (NASDAQ: MDB) and reminds investors of the Deadline: 9 September 2024 to serve as lead plaintiff in a federal securities class action lawsuit filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. Since its founding in 1995, the firm has recovered hundreds of millions of dollars for investors. See www.faruqilaw.com.

The complaint alleges that on March 7, 2024, MongoDB reported strong fourth-quarter 2024 results and then announced lower-than-expected full-year 2025 guidance. MongoDB attributed this to the company’s change in “sales incentive structure,” which 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 per share.

Later, on May 30, 2024, MongoDB further lowered its full-year 2025 forecast, citing “macro-related impacts on consumer growth.” Analysts commenting on the reduced forecast questioned whether changes to the company’s marketing strategy “have 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 per share.

The court-appointed lead plaintiff will be the investor with the greatest financial interest in the relief sought by the class, who is reasonable and typical of class members, and who will direct and oversee the litigation on behalf of the putative class. Any member of the putative class may, through counsel of his or her choosing, ask the court to serve as lead plaintiff, or he or she may choose to do nothing and remain an absent class member. Your ability to share in any relief will not be affected by your decision to serve as lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information about MongoDB’s conduct, including whistleblowers, former employees, shareholders, and others, to contact the company.

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To view the original version of this press release, please visit https://www.newsfilecorp.com/release/216343