NEW YORK, NY / ACCESSWIRE / April 18, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Domo, Inc. ("Domo") (NASDAQ:DOMO) concerning possible violations of federal securities laws.
On August 24, 2023, Domo announced it was lowering its full year 2024 guidance and expected losses per share to range from 39 cents to 47 cents. The Company blamed it on heightened risk of non-renewals specifically as to its larger accounts. On an earnings call in May 2023, CFO David Jolley stated "we continue to believe we're in a good position to accelerate our billings over the first half outlook as we expect growth in our ramped sales capacity to accelerate." Analysts commenting on the missed guidance mention Domo's admitted mismanagement of its FY23 "ramped sales capacity."
Following this news, Domo's stock price fell by $6.10 per share, or approximately 34% to close at $10.94 per share.
To obtain additional information, go to:
https://zlk.com/pslra-1/domo-lawsuit-submission-form?prid=76042&wire=1
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP
View the original
press release on accesswire.com
