RADNOR, Pa., Aug. 05, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against MongoDB, Inc. (“MongoDB”) (NASDAQ:MDB) on behalf of investors who purchased or acquired MongoDB securities between August 31, 2023 and May 30, 2024 (the “Class Period”). The case is assigned to the Honorable Gregory Howard Woods III. The lead plaintiff deadline is September 9, 2024.

CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:
If you suffered MongoDB losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/mongodb-inc?utm_source=PR&utm_medium=link&utm_campaign=mdb&mktm=r   

You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at info@ktmc.com.

Please CLICK HERE to view our video or copy and paste this link into your browser: https://youtu.be/pelzwnLwZt8

DEFENDANTS’ ALLEGED MISCONDUCT:
The complaint alleges that, throughout the Class Period, Defendants misrepresented the purported benefits stemming from the restructuring of MongoDB’s sales force, including how the restructuring helped reduce friction in acquiring new customers and increased new workload acquisition among existing customers. Specifically, the complaint alleges that these statements were materially false and misleading and that, in truth, MongoDB's sales force restructuring resulted in a near total loss of upfront customer commitments, a significant reduction in actionable information gathered by the sales force, and hindered enrollment and revenue growth.

THE LEAD PLAINTIFF PROCESS:
MongoDB investors may, no later than September 9, 2024, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP encourages MongoDB investors who have suffered significant losses to contact the firm directly to acquire more information.

CLICK HERE TO SIGN UP FOR THE CASE OR GO TO:
https://www.ktmc.com/new-cases/mongodb-inc?utm_source=PR&utm_medium=link&utm_campaign=mdb&mktm=r  

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
info@ktmc.com

May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

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