Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In DocuSign To Contact Him Directly To Discuss Their Options
NEW YORK - (NewMediaWire) - December 28, 2021 - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against DocuSign, Inc. (“DocuSign” or the “Company”) (NASDAQ: DOCU) and reminds investors of the February 22, 2022 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 DocuSign stock or options between March 27, 2020 and December 2, 2021 and would like to discuss your legal rights, Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/DOCU.
There is no cost or obligation to you.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the impact of the Covid-19 pandemic on DocuSign’s business was positive, not negative; (2) DocuSign misrepresented the role that the Covid-19 pandemic had on its growth; (3) DocuSign downplayed the impact that a "return to normal" would have on DocuSign’s growth and business; and (4) 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%, and closed damaging investors.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding DocuSign’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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