Did You Purchase Doximity Common Stock Between August 8, 2024 and May 13, 2026?
A securities class action has been filed on behalf of investors who purchased or otherwise acquired common stock of Doximity, Inc. (“Doximity” or the “Company”) (NYSE: DOCS) between August 8, 2024 and May 13, 2026, inclusive (the “Class Period”).
The action is captioned Michigan Laborers’ Pension Fund v. Doximity, Inc., et al., Case No. 3:26-cv-10529, and was filed on September 16, 2026 in the U.S. District Court for the Northern District of California. The action seeks to recover damages caused by Defendants’ alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
What Does the Doximity Securities Class Action Allege?
The complaint alleges that, during the Class Period, Defendants made materially false and misleading statements and failed to disclose that: (1) Doximity overstated the impact its Newsfeed had on revenue growth; (2) Doximity was losing market share to competitors with more favorable pricing and engagement models; and (3) despite statements emphasizing “deep engagement,” Doximity relied on banner ads and email newsletters as advertising methods. The complaint alleges that these undisclosed facts rendered Defendants’ positive statements about Doximity’s business and competitive position materially false or misleading.
DOCS Stock Declines Following Disclosures
November 6, 2025: Doximity expressed caution regarding the outlook for advertising spending and implied a slowdown in sales growth in the second half of fiscal 2026. The complaint alleges that Doximity common stock declined $8.29 per share, or 13%, following the disclosures.
February 5, 2026: Doximity lowered its fiscal 2026 revenue guidance and announced that sales growth had decelerated while net income had contracted. The complaint alleges that Doximity common stock declined $5.59 per share, or 17%.
May 13, 2026: Doximity announced that it had missed its already-reduced revenue guidance and projected significantly slower growth for fiscal 2027. The complaint alleges that Doximity common stock declined an additional $5.38 per share, or 23%, from a May 13 closing price of $23.39 to $18.01 on May 14, 2026.
November 16, 2026 Lead Plaintiff Deadline
The deadline to seek appointment as lead plaintiff is November 16, 2026. You do not need to seek appointment as lead plaintiff to remain a member of the proposed class.
Doximity Investors: Contact Kehoe Law Firm
If you purchased or otherwise acquired Doximity common stock during the Class Period and suffered financial losses, you are encouraged to complete Kehoe Law Firm’s confidential Stockholder Information Request Form or send us a message to discuss your potential legal rights.
For a free, no-obligation legal evaluation, contact:
Michael Yarnoff, Esq.
(215) 792-6676, Ext. 804
[email protected]
[email protected]
About Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action law firm representing investors, consumers, and employees in matters involving securities fraud, corporate misconduct, mergers and acquisitions, antitrust violations, whistleblower claims, data breaches, consumer fraud, employment law violations, and retirement-plan mismanagement. Its attorneys have served as lead or co-lead counsel in major securities cases, recovering more than $10 billion for institutional and individual investors.
Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning plaintiffs are not responsible for attorneys’ fees or litigation expenses. Any request for attorneys’ fees and expenses will be subject to court approval.
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