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Dropbox (DBX) Alert: Johnson Fistel Launches Investigation into Dropbox, Inc.; Investors Encouraged to Contact Firm

Published: 2019-08-21 12:49:00 ET

SAN DIEGO, Aug. 21, 2019 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Dropbox, Inc. (NASDAQ: DBX) ("DropBox") for violations of federal securities laws.

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.

Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its March 2018 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.

If you have information that could assist in this investigation, or if you are a Dropbox shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:Johnson Fistel, LLPJim Baker, 619-814-4471 jimb@johnsonfistel.com

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