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 ...

LOS ANGELES, June 4, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Doximity, Inc. ("Doximity" or "the Company") (NYSE: DOCS) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between February 9, 2022 and April 1, 2024, inclusive (the "Class Period"), are en ...

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, June 03, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Doximity, Inc. (NYSE: DOCS) ("Doximity" or the "Company") investors who purchased or acquired Doximity common stock between February 9, 2022, and April 1, 2024, inclusive (the "Class Period") to visit our website. Doximity operates a digital platform that connects medical professionals, provides medical information, and offers patient schedulin ...

RADNOR, Pa., June 03, 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 ...

NEW ORLEANS, May 24, 2024 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 17, 2024 to file lead plaintiff applications in a securities class action lawsuit against Doximity, Inc. (NYSE: DOCS), if they purchased or otherwise acquired the Company's shares between February 9, 2022, and April 1, 2024, inclusive (the "Class Period"). This action is pending in the United States District Court for ...

NEW YORK, May 30, 2024 /PRNewswire/ -- 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 [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. The class action concerns whether Doximity and certain of its officers and/ ...