MDB - MongoDB (MDB) Class Action Lawsuit has Commenced: Shareholders Have Begun Scrutinizing Sales Incentives Restructure and Unused Commitments – Johnson Fistel | Benzinga
SAN DIEGO, July 18, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of MongoDB, Inc. (NASDAQ:MDB).
There is no cost or obligation to you.
Class Period: August 31, 2023 - May 30, 2024
Lead Plaintiff Deadline: September 9, 2024
Docket #: 24-CV-05191
Allegations: Materially false and misleading statements
Contact for More Information: James Baker, (619) 814-4471, jimb@johnsonfistel.com
The complaint alleges Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning related to MongoDB's sales force incentive restructure, including: a significant reduction in the information gathered by their sales force as to the trajectory for the new Atlas enrollments without upfront commitments; reduced pressure on new enrollments to grow; and a significant loss of revenue from unused commitments. Such statements absent these material facts caused Plaintiff and other shareholders to purchase MongoDB's securities at artificially inflated prices.
However, Investors began to question ...
MDB) Class Action Lawsuit has Commenced: Shareholders Have Begun Scrutinizing Sales Incentives, Restructure, and Unused Commitments – Johnson Fistel>Full story available on Benzinga.com