LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Dropbox, Inc. (“Dropbox” or the “Company”) (NASDAQ: DBX) investors concerning the Company and its officers’ possible violations of federal securities laws.
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If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com.
On or about March 23, 2018, Dropbox held its initial public offering (“IPO”), in which it sold 41.4 million shares at $21.00 per share.
On August 8, 2019, Dropbox announced its second quarter 2019 financial results and reported revenue of $410.4 million, below analysts’ estimate of $420.3 million.
On this news, the Company’s share price fell $2.75, or nearly 13%, to close at $18.71 per share on August 9, 2019, thereby injuring investors. Since the IPO, Dropbox’s stock has traded as low as $17.26, significantly below the $21 IPO price.
If you purchased Dropbox securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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