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MDB INVESTOR NOTICE: MongoDB, Inc. (Nasdaq:MDB) Shareholders that Incurred Losses are Urged to Contact BFA Law about Upcoming Legal Deadline
MDBMongoDB(MDB) GlobeNewswire News Room·2024-07-13 10:52

On March 7, 2024, the Company allegedly announced that due to the sales restructuring, it experienced an annual decrease of approximately 40millioninmultiyearlicenserevenue,anticipatednearzerorevenuefromunusedAtlascommitments(oneofitscoreofferings)infiscalyear2025,andprovidedadisappointingrevenuegrowthforecastthattrailedthatoftheprioryear.ThisnewscausedthepriceofMongoDBstocktodecline40 million in multiyear license revenue, anticipated near zero revenue from unused Atlas commitments (one of its core offerings) in fiscal year 2025, and provided a disappointing revenue growth forecast that trailed that of the prior year. This news caused the price of MongoDB stock to decline 28.59 per share, or about 7%, from 412.01pershareonMarch7,2024,to412.01 per share on March 7, 2024, to 38 ...