BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of Dropbox, Inc. investors (“Dropbox” or the “Company”) (NASDAQ: DBX) concerning the Company and its officers’ possible violations of federal securities laws.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.