NEW YORK, April 16, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Doximity, Inc. (“Doximity” or the “Company”) (NYSE: DOCS). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Doximity and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 1, 2024, Jehosaphat Research issued a report addressing Doximity, stating that “[w]e believe [its] healthcare advertising business is coming under pressure due to a variety of fundamental issues, which we’ve investigated via forensic accounting analysis, interviews with former employees and digital marketing agencies,” among other means, and that it believed the Company’s underlying sales had been declining, “but that this decline has been masked through accelerated revenue recognition.”
On this news, Doximity’s stock price fell $1.11 per share, or 4.12%, over two consecutive trading sessions to close $25.80 per share on April 2, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
646-581-9980 ext. 7980
