The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders who purchased: (a) Domo, Inc. (NASDAQ: DOMO) common stock pursuant and/or traceable to the Company’s initial public offering commenced on or around June 29, 2018; or (b) Domo securities between June 28, 2018 and September 5, 2019, both dates inclusive. The action, which was filed in the United States District Court for the District of Utah, alleges that the Company violated federal securities laws.
In particular, the Domo lawsuit alleges that (i) Domo was experiencing weakness in its enterprise and international businesses; (ii) Domo’s billings growth had dramatically slowed; (iii) all of the foregoing was reasonably likely to have a material negative impact on the Company’s financial results; and (iv) as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein and the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until December 16, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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