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Hagens Berman urges DocuSign, Inc. investors with significant losses to submit your losses .
DocuSign, Inc. (DOCU) Securities Class Action:
The complaint alleges that Defendants made false and misleading statements about the impact of the Covid-19 pandemic on DocuSign’s business.
Specifically, while warning that the Covid-19 pandemic presented a material adverse risk to DocuSign’s prospects, Defendants omitted 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 the Company’s growth and business; and (4) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times
The truth emerged on Dec. 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, damaging investors
“We’re focused on investors’ losses and proving DocuSign and its management first saw signs of the company’s billings growth deceleration much earlier,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in DocuSign and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding DocuSign should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email DOCU@hbsslaw.com.
About Hagens Berman
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Contact:
Reed Kathrein, 844-916-0895
