Our firm is investigating a potential Domo class action lawsuit. On June 28, 2018 Domo (NASDAQ: DOMO) conducted its initial public offering (IPO) at $21 per share. On September 5th, 2019 shares dropped more than 30% in after hours trading following the company’s release of its second-quarter earnings results. By September 6th, shares were trading around $16. If you invested in Domo, you may be eligible to recover your losses. Contact our securities team to discuss your options.

 

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DOMO Stock News: 30% Drop in One Day

On September 5, 2019 Domo released its quarterly results and cut its full year guidance. On this news, shares dropped over 30% in after-hours trading, opening on September 6th at $16.85 per share.

MarketWatch noted:

The chief executive is turning away from promises made during the run-up to Domo’s IPO, and still struggles to actually describe the company’s business, even as he promises “to simplify our message.”

The article further explains that Domo was worth nearly $1 billion as recently as May, but now has a market cap below $500 million. As a result, some are beginning to worry about the future of the company. According to MarketWatch:

The real problem… is that Domo doesn’t seem to know what it is or wants to be — or just can’t communicate that message. A muddled marketing plan and a strategy switch a year after going public are not good signs for the future, and Domo’s future appears as cloudy as it gets.

Our Securities Lawyers Have a Winning Record Against Companies Like Domo

Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.

You “shouldn’t presume that powerful banks and other powerful interests can just get away with doing bad things. Good, qualified counsel that are committed to a cause can usually figure out how to prosecute such cases effectively and prevail.”

Eric Gibbs, award-winning securities attorney

Praise from the Courts

Federal judge in our AT&T class action:

“I’ve always found them to be extraordinary counsel in terms of their preparation and their professionalism.”

Federal judge in our Chase lawsuit (resulting in $100 million settlement):

They “fought tooth and nail, down to the wire” to achieve “the best settlement that they could under the circumstances.”

Read more about what judges say about us.

Michael Schrag

Michael has over 20 years of experience representing individual and small business plaintiffs against the world’s large financial institutions, including Visa, Mastercard, and Chase.

Eileen Epstein

Eileen works closely with investors in securities cases and has over a decade of experience in the legal world. She received her law degree from American University in 2005.

David Stein

David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.

Amanda Karl

Amanda is spearheading a securities lawsuit against NantHealth concerning fraudulent statements to investors about the success of its key product.

Gibbs Law Group's Financial Fraud Experience

Gibbs Law Group’s financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.

We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).