NEW YORK, NY / ACCESSWIRE / June 26, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of MongoDB, Inc. ("Mongo") (NASDAQ:MDB) concerning possible violations of federal securities laws.
On March 7, 2024, Mongo reported strong Q4 2024 results and then announced lower than expected full-year guidance for 2025. Mongo attributed it to the Company's 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, Mongo's stock price fell by $28.59 per share to close at $383.42 per share.
Later, on May 30, 2024, Mongo further lowered its guidance for the full year 2025 attributing it to "macro impacting consumption growth." Analysts commenting on the reduced guidance questioned if changes made to the Company's marketing strategy "led to change in customer behavior and usage patterns." To obtain additional information, go to:
https://zlk.com/pslra-1/mongodb-inc-lawsuit-submission-form?prid=87694&wire=1
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212)363-7500
Fax: (212)363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP