Levi & Korsinsky Announces the Filing of a Securities Class Action on Behalf of MongoDB, Inc.(MDB) Shareholders
NEW YORK, Aug. 19, 2024 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP notifies investors in MongoDB, Inc. (“MongoDB” or the “Company”) (NASDAQ: MDB) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of MongoDB investors who were adversely affected by alleged securities fraud between August 31, 2023 and May 30, 2024. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/mongodb-inc-lawsuit-submission-form?prid=96041&wire=3
MDB investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS: 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.
WHAT’S NEXT? If you suffered a loss in MongoDB during the relevant time frame, you have until September 9, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
