NEW YORK, Feb. 20, 2022 — Pomerantz LLP is investigating claims on behalf of investors of DocuSign, Inc. Such investors are advised to contact Robert S. Willoughby.
The investigation concerns whether DocuSign and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 2, 2021, after market hours, DocuSign held an earnings conference call for its third quarter fiscal year 2022 (the “3Q 2022 Earnings Call”). During the 3Q 2022 Earnings Call, the Company revealed that its anticipated growth for the fourth quarter of 2022 would be lower than expected.
The Company’s Chief Executive Officer and President Daniel D. Springer discussed this slowdown, alleging that the growth boost from the Covid-19 pandemic had deteriorated earlier than expected—a boost that the Company had not previously acknowledged. Also on December 2, 2021, DocuSign published a press release announcing its third-quarter fiscal year 2022 financial results and guidance for the fourth-quarter fiscal year 2022.
The guidance provided, in pertinent part, midpoint revenue guidance of $560 million, missing analysts’ consensus estimates of $573.8 million. The guidance also provided a billing guidance of $653 million, missing consensus estimates of $705.4 million.
On this news, DocuSign’s stock price fell $98.73 per share, or 42.22%, to close at $135.09 per share on December 3, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz Firm 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
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