MDB Investors Have Opportunity to Lead MongoDB, Inc. Securities Fraud Lawsuit

PR Newswire

LOS ANGELES, Sept. 6, 2024

LOS ANGELES , Sept. 6, 2024 /PRNewswire/ --  The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against MongoDB, Inc. ("MongoDB" or the "Company") (NASDAQ: MDB ).

Class Period: August 31, 2023 – May 30, 2024
Lead Plaintiff Deadline: September 9, 2024

If you are a shareholder who suffered a loss, click here to participate.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) MongoDB's sales force restructure, which prioritized reducing friction in the enrollment process, had resulted in complete loss of upfront commitments, a significant reduction in the information gathered by their sales force as to the trajectory for the new Atlas enrollments, and reduced pressure on new enrollments to grow; and (2) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz , of The Law Offices of Frank R. Cruz , 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com , or visit our website at www.frankcruzlaw.com . If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE The Law Offices of Frank R. Cruz , Los Angeles