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Press release content from Business Wire. The AP news staff was not involved in its creation.
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Press release content from Business Wire. The AP news staff was not involved in its creation.

SHAREHOLDER ALERT: Robbins LLP Informs Investors of Class Action Against DocuSign, Inc. (DOCU)

January 3, 2022 GMT

SAN DIEGO--(BUSINESS WIRE)--Jan 3, 2022--

Shareholder rights law firm Robbins LLP informs investors that a class action was filed on behalf of all persons and entities that purchased DocuSign, Inc. (NASDAQ: DOCU) securities between March 27, 2020 and December 2, 2021. The complaint alleges violations of the Securities Exchange Act of 1934. DocuSign offers the Agreement Cloud, a cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device.

If you suffered a loss due to DocuSign Inc.’s misconduct, click here.

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DocuSign, Inc. (DOCU) Made Material Misstatements Regarding its Business Prospects

According to the complaint, during the class period, defendants failed to disclose the role the COVID-19 pandemic had on its growth, including the positive impact on DocuSign’s business. Defendants also downplayed the impact that a ‘return to normal’ would have on the Company’s growth and business.

On December 2, 2021, DocuSign held an earnings conference call for its third quarter fiscal year 2022, revealing that its anticipated growth for the fourth quarter 2022 would be lower than expected. The Company explained that the growth boost from the COVID-19 pandemic had deteriorated earlier than expected. In a press release issued the same day, DocuSign provided guidance for the fourth quarter fiscal year 2022. The guidance provided midpoint revenue guidance of $560 million, missing analysts’ consensus estimates of $573.8 million and a billing guidance of $653 million, missing consensus estimates of $704.5 million. 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.

If you purchased shares of DocuSign, Inc. (DOCU) between March 27, 2020 and December 2, 2021, you have until February 22, 2022, to ask the court to appoint you lead plaintiff for the class.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

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Contact us to learn more:
Aaron Dumas
(800) 350-6003
adumas@robbinsllp.com
Shareholder Information Form

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against DocuSign, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220103005149/en/

CONTACT: Aaron Dumas

Robbins LLP

5040 Shoreham Place

San Diego, CA 92122

adumas@robbinsllp.com

(800) 350-6003

www.robbinsllp.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Robbins LLP

Copyright Business Wire 2022.

PUB: 01/03/2022 09:17 AM/DISC: 01/03/2022 09:17 AM

http://www.businesswire.com/news/home/20220103005149/en