Robbins Geller Rudman & Dowd LLP announces that purchasers of DocuSign, Inc. (NASDAQ: DOCU) securities between March 27, 2020 and December 2, 2021, inclusive (the “Class Period”) have until February 22, 2022 to seek appointment in Collins v. DocuSign, Inc., No. 21-cv-07071 (E.D.N.Y.). Commenced on December 22, 2021, the DocuSign class action lawsuit charges DocuSign and certain of its top executives with violations of the Securities Exchange Act of 1934.
If you wish to serve as lead plaintiff of the DocuSign class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at email@example.com. Lead plaintiff motions for the DocuSign class action lawsuit must be filed with the court no later than February 22, 2022.
CASE ALLEGATIONS: DocuSign offers a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device.
The DocuSign class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) the impact of the Covid-19 pandemic on DocuSign’s business was positive, not negative; (ii) DocuSign misrepresented the role that the Covid-19 pandemic had on its growth; (iii) DocuSign downplayed the impact that a “return to normal” would have on DocuSign’s growth and business; and (iv) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
On December 2, 2021, DocuSign revealed that its anticipated growth for the fourth quarter of 2022 would be lower than expected. Discussing this slowdown, DocuSign’s CEO, defendant Daniel D. Springer, stated that the growth boost from the Covid-19 pandemic had deteriorated earlier than expected – a growth boost that DocuSign did not acknowledge until this point. That same day, DocuSign also announced guidance for the fourth quarter fiscal year 2022, providing midpoint revenue guidance of $560 million, missing analysts’ consensus estimates of $573.8 million. DocuSign’s guidance also provided a midpoint billing guidance of $653 million, missing consensus estimates of $705.4 million. On this news, DocuSign’s stock price fell by more than 42%, damaging investors.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased DocuSign securities during the Class Period to seek appointment as lead plaintiff in the DocuSign class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the DocuSign class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the DocuSign class action lawsuit. An investor’s ability to share in any potential future recovery of the DocuSign class action lawsuit is not dependent upon serving as lead plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. law firm representing investors in securities class actions. Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering $1.6 billion for investors last year, more than double the amount recovered by any other securities plaintiffs’ firm. Please visit http://www.rgrdlaw.com for more information.
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J.C. Sanchez, 800-449-4900