Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against MongoDB, Inc. (“MongoDB” or “the Company”) (NASDAQ: MDB) and certain of its officers.

Class Definition

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired MongoDB securities between August 23, 2023, and May 30, 2024, inclusive (the “Class Period”). Such investors are encouraged to join this case.

Case Details

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. The Complaint adds that the Company attributed this to a 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 dropped $28.59 per share to close at $383.42. Then, 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 whether changes to the Company’s marketing strategy “led to change in customer behavior and usage patterns.” Following this news, MongoDB’s stock dropped $73.94 per share to close at $236.06.

What’s Next?

A class action lawsuit has already been filed. You may review a copy of the Complaint. You may also contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660. If you suffered a loss in MongoDB 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 lead plaintiff.