Innvestor Alleges Company Mislead Shareholders

DocuSign, Inc. (NASDAQ:DOCO)

HENDERSONVILLE, TN, UNITED STATES, December 31, 2021 /EINPresswire.com/ -- HENDERSONVILLE, TN / December 31, 2021/ The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 20 years, announces announces that a purchaser of DocuSign, Inc. (NASDAQ: DOCU) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities Exchange Act of 1934 between March 27, 2020 and December 2, 2021. Commenced on December 22, 2021 in the Eastern District of New York, the DocuSign class action lawsuit – captioned Collins v. DocuSign, Inc., No. 21-cv-07071– charges DocuSign and certain of its top executives with violations of the Securities Exchange Act of 1934.

If you suffered a loss due to DocuSign’s misconduct, click here.

DocuSign, Inc. (NASDAQ: DOCU) Misled Investors Regarding its Business Operations

According to the complaint, DocuSign offers a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device.

The DocuSign class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) the impact of the Covid-19 pandemic on DocuSign’s business was positive, not negative; (ii) DocuSign misrepresented the role that the Covid-19 pandemic had on its growth; (iii) DocuSign downplayed the impact that a “return to normal” would have on DocuSign’s growth and business; and (iv) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.

On December 2, 2021, DocuSign revealed that its anticipated growth for the fourth quarter of 2022 would be lower than expected. Discussing this slowdown, DocuSign’s CEO, defendant Daniel D. Springer, stated that the growth boost from the Covid-19 pandemic had deteriorated earlier than expected – a growth boost that DocuSign did not acknowledge until this point. That same day, DocuSign also announced guidance for the fourth quarter fiscal year 2022, providing midpoint revenue guidance of $560 million, missing analysts’ consensus estimates of $573.8 million. DocuSign’s guidance also provided a midpoint billing guidance of $653 million, missing consensus estimates of $705.4 million. On this news, DocuSign’s stock price fell by more than 42%, damaging investors.

DocuSign’s Shareholders Urged to Contact the Firm

If you purchased Chegg securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr Miles will be featured in the upcoming publication of The Top 100 Lawyers Madgazine He was also recogniied recognized as a 2021 Top Ranked Lawyer; 2021 Top Rated Litigator; and a 2021 Elite Lawyer of The South by Martindale-Hubbell^® and ALM. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell^®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: Top Rated Litigator by Martindale-Hubbell^® and ALM (2019-2021); Top Rated Lawyer by Martindale-Hubbell^® and ALM (2019-2021); Elite Lawyer of The South by Martindale-Hubbell^® and ALM (2019-2020); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2018-2020); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019-2020); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits to Investors (Timothy L. Miles, Dec. 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com
Website: www.timmileslaw.com


Leading the Fight to Protect Shareholder Rights for Over 2 Years

Timothy Lee Miles Miles
Law Offices Of Timothy L. Miles
+ +1 615-587-7384
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Nationally Recognized Shareholder Rights Attorney Timothy L. Miles Has Achieved the Recognition of American’s Most Honored Lawyers 2020 - Top 1%

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.