MongoDB, Inc.

Registration Deadline:

09/09/2024

Submit Your Information

A securities class action has been filed in the USDC — S.D.N.Y. against MongoDB, Inc. (MDB) (“MongoDB” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired MongoDB common stock between August 31, 2023 and May 30, 2024, both dates inclusive (the “Class Period”).

 

MongoDB is an American software company that designs, develops, manufactures, and sells developer data platforms and integrated services systems through its document-oriented database program. MongoDB has two core offerings: its original localized MongoDB platform which incorporates a physical MongoDB server, coined “MongoDB Enterprise Advanced” (“EA”), and its cloud-based alternative, MongoDB Atlas (“Atlas”)

 

 

The complaint alleges that on March 7, 2024, MongoDB reported strong Q4 2024 results and then announced lower-than-expected full-year guidance for 2025. The Complaint adds that the Company attributed this to a 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 dropped $28.59 per share to close at $383.42. Then, 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 whether changes to the Company’s marketing strategy “led to change in customer behavior and usage patterns.”

Following this news, MongoDB’s stock dropped $73.94 per share to close at $236.06.

 

If you purchased MongoDB common stock during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

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