NEW YORK, Dec. 31, 2021 /PRNewswire/ — Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the United States District Court for the Eastern District of New York has been filed against DocuSign, Inc.
(“DOCU” or the “Company”) (NASDAQ: DOCU) on behalf of investors who purchased or acquired the common stock of DocuSign between March 27, 2020 and December 2, 2021, inclusive (the “Class Period”).
All investors who purchased the shares of DocuSign, Inc. and incurred losses are urged to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in DocuSign, Inc., you may, no later than February 22, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in DocuSign, Inc.
According to the filed Complaint, Defendants failed to disclose to investors that:
specifically, while warning that the Covid-19 pandemic presented a material
adverse risk to DocuSign's prospects, Defendants omitted to disclose that:
- the impact of the Covid-19 pandemic on DocuSign's business was actually positive, not negative;
- DocuSign misrepresented the role that the Covid-19 pandemic had on its growth;
- DocuSign downplayed the impact that a 'return to normal' would have on the Company's growth and business; and
- as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
The truth emerged on December 2, 2021, when DocuSign released disappointing 3Q 2022 results, announcing that it sustained a significant deceleration in billings growth that would continue into Q4 2022. The company blamed the poor results and dismal outlook on “a reduction of that really heightened COVID buying, which drove our growth rates dramatically higher than they had ever been even as we got bigger.”
On this news, DocuSign's stock price plummeted $98.73 per share, or over 42%, to close at $135.09 per share on December 3, 2021.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at firstname.lastname@example.org, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: email@example.com, firstname.lastname@example.org or email@example.com
Tel: (800) 575-0735 or (212) 545-4774
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP