SAN DIEGO & SAN FRANCISCO–(BUSINESS WIRE)–$DBX #ClassAction–Shareholder rights law firm Robbins Arroyo LLP informs shareholders that it is investigating Dropbox, Inc. (NASDAQ: DBX) for potential violations of federal securities laws pursuant to its March 2018 initial public offering (“IPO”). Dropbox completed its IPO on March 23, 2018, offering shares at $21.00 and raising $756 million in proceeds. Then, on August 8, 2019, Dropbox reported $410.4 million and $517.3 million in billings and deferred revenue, respectively, in its second quarter fiscal 2019 report. Both figures were below analysts’ estimates of $420.3 million in billings and $527.7 million in deferred revenue. On this news, Dropbox stock fell 12.8%. The stock currently trades at $17.56, a 16% decline from Dropbox’s IPO price. Dropbox provides a collaboration platform through its website or app.
If you suffered a loss as a result of Dropbox’s misconduct, click here.
Dropbox, Inc. (DBX) Shareholders Have Legal Options
Contact us to learn more:
Leo Kandinov
(800) 350-6003
[email protected]
Shareholder Information Form
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.
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Contacts
Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San Diego, CA 92122
[email protected]
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
