Doximity (DOCS) Masking Falling Sales Case
$DOCS stockholder filed a suit vs. Doximity for masking declining sales
On April 1, 2024, Jehosaphat's disrobing report caused $DOCS to fall 4%, losing $135M+ of shareholder value over two days.
On April 1, 2024, Jehosaphat Research released a report on Doximity. The report claims that the Company’s healthcare advertising business is coming under pressure due to a variety of fundamental issues, evidenced by:
Series of senior departures from the company: Chief Revenue Officer, Co-Founder, Controller;
CFO’s refusal to discuss Doximity’s revenue accounting;
KPIs (NRR, ROI) appear heavily edited;
Rate of Company’s erroneous doctor profiles exploding in recent years;
Successful competition from LinkedIn.
On this news, $DOCS fell 4+%, losing $135M+ of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect Doximity of false reporting, which led to their losses.
The case is already in N.D. California court.
Frequently Asked Questions
All persons who purchased or otherwise acquired Doximity common stock from June 24, 2021 through August 8, 2023, inclusive.
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
The final payout amount depends on your specific trades and the number of investors participating in the settlement.
If 100% of investors file their claims - the average payout will be $0.32 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $1.28 per share.
If you're eligible, you can file your claim directly from this case page by clicking the "Collect Payout" button.
More than 100 companies are currently paying out settlements. Connect your brokerage account to automatically check which ones you may have missed — or file manually for this case.
11th.com is an investor recovery company that helps investors track and collect securities class action settlements. We will:
1. Prepare documents for your payout.
2. Audit the claim and make sure you get the maximum possible payout.
3. File a claim with the settlement administration.
4. Correspond with the settlement administration to resolve emerging issues.
5. Deliver payout directly to your brokerage account.
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.