NEW YORK, Nov. 27, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Dropbox, Inc. (NASDAQ: DBX) pursuant and/or traceable to the Registration Statement issued in connection with Dropbox’s March 23, 2018 initial public stock offering (the “IPO”), inclusive (the “Class Period”). The lawsuit seeks to recover damages for Dropbox, Inc. investors under the federal securities laws.

To join the class action, go http://pawarlawgroup.com/cases/dropbox-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Dropbox had materially overstated its ability to monetize its user base; (2) Dropbox was facing worsening revenue trends that were negatively impacting the Company at the time of the IPO; (3) Dropbox was tracking below its internal revenue and monetization targets at the time of the IPO; and (4) as a result, defendants’ statements about Dropbox’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 3, 2019.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

No class has been certified.  Until a class is certified, you are not represented by counsel unless you hire one.  You may hire counsel of your choice.  You may also do nothing at this time and be an absent member of the class.  Your ability to share in any future recovery is not dependent upon being a lead plaintiff. 

Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
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Contact:  
Vik Pawar, Esq.  
Pawar Law Group  
20 Vesey Street, Suite 1410  
New York, NY 10007  
Tel: (917) 261-2277  
Fax: (212) 571-0938  
info@pawarlawgroup.com  

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