MONGODB 72 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against MongoDB, Inc. - MDB

By: Kahn Swick & Foti, LLC via Business Wire

September 06, 2024 at 17:31 PM EDT

Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 9, 2024 to file lead plaintiff applications in a securities class action lawsuit against MongoDB, Inc. (NasdaqGM: MDB). This action is pending in the United States District Court for the Southern District of New York.

What You May Do

If you purchased securities of MongoDB and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgm-mdb/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by September 9, 2024.

About the Lawsuit

MongoDB and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On May 30, 2024, the Company released its first quarter fiscal year 2025 results, disclosing significantly reduced growth expectations and cutting fiscal year 2025 growth projections, due to the Company’s decision to change its sales incentive structure to reduce enrollment frictions, along with some allegedly unanticipated macro headwinds. On this news, the price of MongoDB’s shares fell nearly 24%, from a closing price of $310.00 per share on May 30, 2024 to $236.06 per share on May 31, 2024.

The case is Baxter v. MongoDB, Inc., et al., 24-cv-05191.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.

To learn more about KSF, you may visit www.ksfcounsel.com.