NEW YORK, July 09, 2024 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of MongoDB, Inc. (“MongoDB” or the “Company”) (NASDAQ: MDB) between August 31, 2023 and May 30, 2024, both dates inclusive. You are hereby notified that the class action lawsuit John Baxter v. MongoDB, Inc., et al. (Case No. 1:24-cv-05191) has been commenced in the United States District Court for the Southern District of New York. To get more information go to:

https://zlk.com/pslra-1/mongodb-inc-lawsuit-submission-form

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

The complaint alleges that on March 7, 2024, MongoDB reported strong Q4 2024 results and then announced lower than expected full-year guidance for 2025. MongoDB attributed it to the Company’s change in its “sales incentive structure” which led to a decrease in revenue related to “unused commitments and multi-year licensing deals.”

Following this news, MongoDB’s stock price fell by $28.59 per share to close at $383.42 per share.

Later, on May 30, 2024, MongoDB further lowered its guidance for the full year 2025 attributing it to “macro impacting consumption growth.” Analysts commenting on the reduced guidance questioned if changes made to the Company’s marketing strategy “led to change in customer behavior and usage patterns.”

Following this news, MongoDB’s stock price fell by $73.94 per share to close at $236.06 per share.

If you suffered a loss in MDB securities, you have until September 9, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq. 
Ed Korsinsky, Esq. 
33 Whitehall Street, 17th Floor 
New York, NY 10004 
jlevi@levikorsinsky.com 
Tel: (212) 363-7500 
Fax: (212) 363-7171 
www.zlk.com