Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of MongoDB, Inc. (NASDAQ: MDB) between August 31, 2023 and May 30, 2024. MongoDB describes itself as an “American software company that designs, develops, manufactures, and sells developer data platforms and integrated services systems through its document-oriented database program.”

For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.

The Allegations: Rosen Law Firm is Investigating the Allegations that MongoDB, Inc. (NASDAQ: MDB) Misled Investors Regarding its Business Operations.

According to the lawsuit, throughout the Class Period, MongoDB reported strong Q4 2024 results and then announced lower than expected full-year guidance for 2025. MongoDB attributed to a change in its “sales incentive structure,” which led to a decrease in revenue related to “unused commitments and multi-year licensing deals.” Following this news, MongoDB’s stock dropped $28.59 per share to close at $383.42. Then, on May 30, 2024, MongoDB further lowered its guidance for the full year 2025, attributing it to “macro impacting consumption growth.” Analysts commenting on the reduced guidance questioned whether changes to the Company's marketing strategy “led to change in customer behavior and usage patterns.” Following this news, MongoDB’s stock dropped $73.94 per share to close at $236.06. When the true details entered the market, the lawsuit claims that investors suffered damages.

What Now: You may be eligible to participate in the class action against MongoDB, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 9, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.

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