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Dropbox, Inc.

Company NameDropbox, Inc.
Stock SymbolDBX
Lead Plaintiff Motion DeadlineDecember 03, 2019

On or about March 23, 2018, Dropbox held its initial public offering (“IPO”), in which it sold 41.4 million shares at $21.00 per share. 

On August 8, 2019, Dropbox announced its second quarter 2019 financial results and claimed to have “more than 500 million registered users” as of June 2019, or essentially flat user growth since December 31, 2017. Moreover, the Company’s revenue growth was only 18%, a sharp decline from annual growth rates of 40% and 31% highlighted in the Registration Statement.

On this news, the Company’s share price fell $2.75, or nearly 13%, to close at $18.71 per share on August 9, 2019, thereby injuring investors. Since the IPO, Dropbox’s stock has traded as low as $17.26, significantly below the $21 IPO price.

 

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Shares Purchased

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Shares Sold

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