Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Doximity, Inc. who purchased shares between February 9, 2022 and April 1, 2024.
Doximity and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. The alleged false and misleading statements and omissions include, but are not limited to, that the Company repeatedly touted its business prospects and the sustainability of its revenue growth and profitability, while downplaying the impact of competition and tightening macroeconomic conditions on its reliance on “upselling” products and services (such as additional advertising) to existing customers to sustain the Company’s performance and future growth.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until June 17, 2024 to request that the court appoint them lead plaintiff.