NEW YORK, Sept. 23, 2026 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”), a nationally recognized securities litigation law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased Doximity, Inc. (NYSE: DOCS) (“Doximity”) common stock between August 8, 2024 and May 13, 2026, inclusive (the "Class Period").
Investors who purchased Doximity shares during the class period and suffered losses may be eligible to participate in the case, with the lead-plaintiff deadline set for November 16, 2026.
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The filed complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Doximity overstated the impact that its Newsfeed would have on its revenue; and
- Doximity was losing market share to its competitors with more favorable pricing and engagement models, while also using banner ads and e-newsletters instead of deep engagement tactics.
On November 6, 2025, Doximity reported second quarter results where they expressed a degree of caution regarding the outlook for ad spending and implied a slowdown in sales growth in the second half of the 2026 fiscal year. On this news, the price of Doximity common stock dropped 13%, to close at $62.58 per share.
The complaint further alleges that on February 5, 2026, Doximity lowered its revenue guidance for 2026 full fiscal year, which ended on March 31, 2026, and announced that its sales growth had decelerated while its net income had contracted, which will negatively impact its 2026 fiscal fourth quarter. On this news, the price of Doximity common stock declined an additional 17%, closing at $33.32 per share.
Finally, on May 13, 2026, Doximity announced that it missed its already-reduced revenue guidance and projected a significantly slower pace of growth for its 2027 fiscal year, which ends on March 31, 2027. On this news, the price of Doximity common stock fell 23%, closing for the day at $23.39 per share.
This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven record of protecting the rights of investors.
We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.
There is no cost or obligation to speak with an attorney.
Contact:
- Phone: (800) 575-0735 or (212) 545-4774
- Email: classmember@whafh.com
- Contact Person: Gregory Stone, Director of Case and Financial Analysis
Firm Website: Wolf Haldenstein Adler Freeman & Herz LLP
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