Investors can Contact the law firm free of charge to learn more about recovering their losses
LOS ANGELES, July 12, 2024 (GLOBE NEWSWIRE) — Portnoy Law Firm Advises MongoDB, Inc. (“MongoDB” or the “Company”) (NASDAQ: MDB)
Investors that a class action lawsuit has been filed on behalf of investors. MongoDB investors who lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact Attorney Lesley F. Portnoy by phone at 310-692-8883 or email at [email protected] to discuss their legal rights or click here to join the case at www.portnoylaw.com. The Portnoy Law Firm can provide a free case evaluation and discuss investors’ options for pursuing claims to recover their losses.
MongoDB and certain of its executives are accused of failing to disclose material information during the Class Period, thereby violating the federal securities laws.
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 license agreements.” On May 30, 2024, MongoDB again announced significantly reduced growth expectations, this time with a further reduction in growth forecasts for fiscal 2025. The losses were again attributed to the company’s decision to change its sales incentive structure to reduce enrollment friction, as well as some supposedly unexpected macroeconomic headwinds.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, engaged in a scheme to deceive the market, and engaged in a course of conduct that artificially inflated the price of MongoDB common stock and constituted fraud or deception against purchasers of MongoDB common stock during the Class Period by materially misleading investors.
Please visit our website to review further information and submit your transaction information.
The Portnoy Law Firm represents investors in claims arising from corporate malpractice. The firm’s founding partner has recovered more than $5.5 billion for injured investors. Attorney Advertising. Past results do not guarantee similar results.
Lesley F. Portnoy, Esq.
Admitted to the bar in California and New York
[email protected]
310-692-8883
www.portnoylaw.com
Lawyer advertising
