Dropbox, Inc. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Dropbox, Inc. (NASDAQGS: DBX) Class A common stock pursuant or traceable to registration statement issued in connection with the Company’s March 23, 2018 initial public offering.
According to the Dropbox lawsuit, throughout the Class Period defendants 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, which were negatively impacting the Company at the time of the initial public offering (“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.
If you suffered a loss in Dropbox you have until December 3, 2019 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.
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