NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against MongoDB, Inc. (NASDAQ: MDB) on behalf of long-term stockholders following a class action complaint that was filed against MongoDB on July 9, 2024 with a Class Period from August 31, 2023 to May 30, 2024. Our investigation concerns whether the board of directors of MongoDB have breached their fiduciary duties to the company.
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.
If you are a long-term stockholder of MongoDB, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
