MongoDB, Inc.
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Case Overview
57 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 09/09/2024 |
Status: | Status: Investigating |
Company Name: | Company Name: MongoDB, Inc. |
Court: | Court: Southern District of New York |
Case Number: | Case Number: 1:24cv05191 |
Class Period: | Class Period: 08/31/2023 - 05/30/2024 |
Ticker: | Ticker: MDB |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired MongoDB, Inc. (“MongoDB” or the “Company”) (NASDAQ: MDB) securities during the period of August 31, 2023 through May 30, 2024, inclusive (“the Class Period”). Investors have until September 9, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On March 7, 2024, MongoDB reported strong fourth quarter 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." On this news, the price of MongoDB shares declined by $28.59 per share to close at $383.42 per share on March 8, 2024.
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." On this news, the price of MongoDB shares declined by $73.94 per share to close at $236.06 per share on May 31, 2024.
On March 7, 2024, MongoDB reported strong fourth quarter 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." On this news, the price of MongoDB shares declined by $28.59 per share to close at $383.42 per share on March 8, 2024.
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." On this news, the price of MongoDB shares declined by $73.94 per share to close at $236.06 per share on May 31, 2024.