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NEW YORK, Oct. 21, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Domo, Inc. (“Domo” or the “Company”) (Nasdaq: DOMO) in the United States District Court for the District of Utah on behalf of those who purchased or acquired the securities of Domo (1) from June 26, 2018 through September 5, 2019, inclusive (the “Class Period”); or (2) pursuant and/or traceable to the Company’s registration statement and related prospectus issued in connection with the Company’s initial public offering (“IPO” or the “Offering”) commenced on or about June 29, 2018.
The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Domo was experiencing weakness in its enterprise and international businesses; (2) Domo’s billings growth had dramatically slowed; (3) all of the foregoing was reasonably likely to have a material negative impact on the Company’s financial results; and (4) as a result, Domo’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the December 16, 2019 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at firstname.lastname@example.org or email@example.com.
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