| COMPANY |
MongoDB, Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
24-cv-05191 |
| JUDGE |
The Hon. Gregory Howard Woods III |
| CLASS PERIOD |
August 31, 2023 through May 30, 2024 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action on behalf of persons or entities who purchased or otherwise acquired MongoDB, Inc. securities from August 31, 2023 through June 26, 2024, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants misrepresented the purported benefits stemming from the restructuring of MongoDB’s sales force, including how the restructuring helped reduce friction in acquiring new customers and increased new workload acquisition among existing customers. Specifically, the complaint alleges that these statements were materially false and misleading and that in truth, MongoDB's sales force restructuring resulted in a near total loss of upfront customer commitments, a significant reduction in actionable information gathered by the sales force, and hindered enrollment and revenue growth.
Current Status of Case:
On November 12, 2024, the Court entered a Memorandum and Order appointing Lead Plaintiffs and Lead Class Counsel. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.