SAN DIEGO, May 29, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Doximity, Inc. (NYSE: DOCS) common stock between February 9, 2022 and April 1, 2024.   Doximity operates a digital platform that provides connections between, medical information to, and patient scheduling tools for medical professionals.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating the Allegations that Doximity, Inc. (DOCS) Misled Investors Regarding Demand for its Products and Services   

According to the complaint, defendants repeatedly touted the Company’s business prospects and the sustainability of the Company’s revenue growth and profitability, while downplaying the impact of competition and tightening macroeconomic conditions on the Company and Doximity’s reliance on “upselling” products and services (such as additional advertising) to existing customers to sustain the Company’s performance and future growth. When the truth was revealed, the price of Doximity's shares declined, harming investors.

What Now: You may be eligible to participate in the class action against Doximity, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by June 17, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

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

About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. 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. Since our inception, we have obtained over $1 billion for shareholders.

To be notified if a class action against Doximity, 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2f5835b5-5eb6-4a08-ad89-391f7f2a3952