Governance & Derivative
DocuSign, Inc. (NasdaqGS: DOCU)
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into DocuSign, Inc. (NasdaqGS: DOCU).
In December 2021, the Company released its financial results for the third quarter 2022, disclosing dramatically slowed billings growth, constituting a 28% drop year-over-year, primarily due to waning demand as customers began returning to their offices and resumed in-person signature processes, contrary to its prior representations that pandemic-driven demand would be viable long-term. Further, the Company disclosed the departure of former CFO Michael Sheridan, one of the primary executives responsible for setting the Company’s billings guidance early in the pandemic.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit charging them with failing to disclose material information during the Class Period in violation of federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether DocuSign’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of DocuSign shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.