NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Dropbox, Inc. (NASDAQ:DBX) resulting from allegations that Dropbox may have issued materially misleading business information to the investing public.
On or about March 23, 2018, Dropbox sold 36 million shares of stock in its initial public stock offering (the "IPO"), at $21.00 a share raising $756,000,000 in new capital. However, since the IPO, Dropbox stock has plunged, on August 20, 2019, the stock closed at $17.80.
On August 8, 2019, Dropbox reported second-quarter fiscal 2019 results. For the quarter, the Company reported revenue of $410.4 million below analysts' average estimate of $420.3 million. Following this news, Dropbox stock fell 12.8% on August 9, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Dropbox investors. If you purchased shares of Dropbox please visit the firm’s website at http://www.rosenlegal.com/cases-register-1664.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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