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DOXIMITY, INC. (NYSE: DOCS) DEADLINE ALERT: Bernstein

NEW YORK, May 28, 2024 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP:

  • Do you own or have held shares of Doximity, Inc. (NYSE: DOCS)?
  • Did you purchase your shares between February 9, 2022 and April 1, 2024 inclusive?
  • Have you lost money on your investment in Doximity, Inc.?
  • Would you like to discuss your rights?

Bernstein Liebhard LLP, a nationally respected investor rights law firm, reminds investors of the lead plaintiff filing deadline in a securities class action lawsuit filed on behalf of investors who purchased or acquired Doximity, Inc. common stock. (“Doximity” or the “Company”) (NYSE: DOCS) among February 9, 2022 and April 1, 2024inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Northern District of California alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its employees (the “Complaint”).

if you you have purchased or acquired Doximity common stock and/or would like to discuss your rights and options visit Doximity, Inc. Shareholder Class Action Lawsuit or contact the Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected].

If you wish to serve as lead plaintiff, you must move the Court no later than June 17, 2024. A lead plaintiff is a representative party who acts on behalf of other class members and directs the litigation. Your ability to share in any recovery does not require you to be a lead plaintiff. If you choose to take no action, you may remain an absent member of the class.

According to the complaint, defendants repeatedly touted the Company’s business prospects and the sustainability of its revenue growth and profitability, while downplaying the impact of competition and tightening macroeconomic conditions, as well as Doximity’s reliance on “upselling” products and services (such as additional advertising) to existing customers in order to maintaining performance and future growth.

On August 8, 2023, after the market closed, Doximity provided disappointing guidance for the second quarter of fiscal year 2024 and lowered its guidance for the full year of fiscal year 2024. Due to the disappointing outlook, Doximity announced that it would reduce its workforce by approximately 10%.

On this news, Doximity’s share price fell by $7.49 per share, or almost 23%, to close at $25.30 per share on August 9, 2023.

Then, on April 1, 2024, Jehoshaphat Research released a report that alleged, among other things, that “Doximity core sales. . . If declining at a negative level of -3-6%, but () this decline was masked by accelerated revenue recognition.”

Following this news, Doximity’s share price fell by almost 2%, closing at $25.80 per share on April 1, 2024.

if you you have purchased or acquired Doximity common stock and/or would like to discuss your rights and options visit Doximity, Inc. Shareholder Class Action Lawsuit or contact the Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the firm works with the largest public and private pension funds in the country to monitor their assets and litigate on their behalf. As a result of our success in litigating hundreds of lawsuits and class actions, the firm has been named to The National Law Journal’s “Hot List of Plaintiffs” thirteen times and has been named to The Legal 500 list for sixteen consecutive years.

ADVERTISING ATTORNEYS. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Past results do not guarantee or predict a similar result with respect to any future matter.

Contact info:

Peter Allocco
Investor Relations Manager
Bernstein Liebhard limited liability company
https://www.bernlieb.com
(212) 951-2030
[email protected]