NEW YORK, June 12, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Doximity, Inc. ("Doximity" or the "Company") (NYSE: DOCS) and reminds investors of the June 17, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you suffered losses exceeding $100,000 investing in Doximity stock or options between February 9, 2022 and April 1, 2024 and would like to ...

NEW YORK, June 12, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Doximity, Inc. ("Doximity" or the "Company") (NYSE:DOCS) and reminds investors of the June 17, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you suffered losses exceeding $100,000 investing in Doximity stock or options between February 9, 2022 and April 1, 2024 and would like to ...

Important Deadline Reminder: Investors who purchased or otherwise acquired Doximity common stock during the Class Period may, no later than June 17, 2024, move the Court to serve as lead plaintiff for the class. You can also contact attorney Jonathan Naji, Esq. of Kessler Topaz by calling (484) 270-1453 or by email at [email protected]. DEFENDANTS' MISCONDUCT Throughout the Class Period, Defendants continued to tout the sustainability of the Company's business prospects while also downplaying the importance ...

Do you want to discuss your rights? On this news, Doximity's stock price fell $7.49 per share, or nearly 23%, to close at $25.30 per share on August 9, 2023. Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits ...

RADNOR, Pa., June 09, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP informs investors that the firm has filed a securities fraud class action lawsuit against Doximity, Inc. (NYSE: DOCS) ("Doximity" or the "Company") on behalf of investors who purchased or acquired Doximity common stock between February 9, 2022, and April 1, 2024, inclusive (the "Class Period"). This action, captioned Kissler v. Doximity, Inc., et al., Case No. 3:24-cv-02281-JST was filed in the United States Di ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Doximity, Inc. due to allegations of violations of federal securities laws, with a deadline for investors to seek lead plaintiff status by June 17, 2024 [1][4]. Group 1: Allegations and Financial Performance - The complaint alleges that Doximity and its executives made false or misleading statements regarding the sustainability of the Company's business prospects and downplayed the importance of customer upsell rates [4]. - Doximity reported its first-quarter fiscal year 2024 results on August 8, 2023, exceeding revenue and adjusted EBITDA guidance but provided disappointing guidance for the second quarter and slashed its full-year guidance, alongside announcing a workforce reduction of approximately 10% [4]. - Following the disappointing guidance, Doximity's stock price fell by $7.49, nearly 23%, from $32.79 to $25.30 per share on August 9, 2023 [5]. Group 2: Revenue Decline and Market Reaction - On April 1, 2024, Jehoshaphat Research published a report indicating that Doximity's underlying sales were declining at a rate of -3% to -6%, which was masked by accelerated revenue recognition [6]. - This revelation led to a decline in Doximity's stock price by $1.11, over 4%, from $26.91 to $25.80 per share between March 28 and April 2, 2024 [6]. Group 3: Legal Proceedings and Investor Actions - Investors who suffered losses exceeding $100,000 between February 9, 2022, and April 1, 2024, are encouraged to contact Faruqi & Faruqi to discuss their legal rights [2]. - The court-appointed lead plaintiff will be the investor with the largest financial interest who is typical of class members, and any member may move to serve as lead plaintiff or remain an absent class member [7]. - Faruqi & Faruqi is also seeking information from whistleblowers, former employees, and shareholders regarding Doximity's conduct [8].

Then, on April 1, 2024, Jehoshaphat Research published a report alleging, among other things, that "Doximity's underlying sales . . . are declining at a negative -3-6% rate, but that this decline has been masked through accelerated revenue recognition." NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Doximity, Inc. ("Doximity" or the "Company") (NYSE: DOCS). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or ...

Then, on April 1, 2024, Jehoshaphat Research published a report alleging, among other things, that "Doximity's underlying sales . . . are declining at a negative 3-6% rate, but that this decline has been masked through accelerated revenue recognition." On this news, Doximity's stock price fell $1.11, or 4.1%, over two consecutive trading days to close at $25.80 per share on April 2, 2024, thereby injuring investors further. The complaint filed in this class action alleges that throughout the Class Period, D ...

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Doximity, Inc. due to allegations of violations of federal securities laws, with a deadline for investors to seek lead plaintiff status by June 17, 2024 [1][4]. Summary by Sections Company Overview - Doximity, Inc. is a publicly traded company on the NYSE under the ticker DOCS [1]. Allegations and Financial Performance - The complaint alleges that Doximity and its executives made false or misleading statements regarding the sustainability of the company's business prospects and downplayed the importance of customer upsell rates [4]. - On August 8, 2023, Doximity reported its Q1 fiscal year 2024 results, exceeding revenue and adjusted EBITDA guidance but providing disappointing guidance for Q2 and slashing full-year guidance, alongside a workforce reduction of approximately 10% expected to cost $8 million to $10 million [4]. - Doximity's executives admitted that major upsells had materially underperformed, attributing sales failures to fewer face-to-face meetings with clients [5]. Stock Price Impact - Following the August 8, 2023 announcement, Doximity's stock price fell by $7.49, or nearly 23%, from $32.79 to $25.30 per share [5]. - On April 1, 2024, a report from Jehoshaphat Research indicated that Doximity's underlying sales were declining at a rate of -3% to -6%, leading to a further decline in stock price by $1.11, or over 4%, from $26.91 to $25.80 per share [6]. Legal Proceedings - The lead plaintiff in the class action will be the investor with the largest financial interest who is adequate and typical of class members [7]. - Faruqi & Faruqi encourages anyone with information regarding Doximity's conduct to come forward, including whistleblowers and former employees [8].

Case Details: According to the Complaint, Doximity operates a digital platform that provides connections between, medical information to, and patient scheduling tools for medical professionals. Doximity serves more than 2 million registered members including over 80% of U.S. physicians and over 50% of nurse practitioners and physician assistants. The Complaint alleges that throughout the Class Period Defendants made materially false and/or misleading statements as well as failed to disclose material adverse ...