SAN FRANCISCO, CA / ACCESSWIRE / December 29, 2021 / Hagens Berman urges DocuSign, Inc. (NASDAQ:DOCU) investors with significant losses to submit your losses now.
Class Period: Mar. 27, 2020 - Dec. 2, 2021
Lead Plaintiff Deadline: Feb. 22, 2022
844-916-0895
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...
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