Robbins LLP is Investigating Dropbox, Inc. (DBX)
Robbins LLP informs shareholders that it is investigating Dropbox, Inc. (NASDAQ: DBX) for potential violations of federal securities laws pursuant to its March 2018 initial public offering (“IPO”). Dropbox completed its IPO on March 23, 2018, offering shares at $21.00 and raising $756 million in proceeds. Then, on August 8, 2019, Dropbox reported $410.4 million and $517.3 million in billings and deferred revenue, respectively, in its second-quarter fiscal 2019 report. Both figures were below analysts’ estimates of $420.3 million in billings and $527.7 million in deferred revenue. On this news, Dropbox stock fell 12.8%. The stock currently trades at $17.56, a 16% decline from Dropbox’s IPO price. Dropbox provides a collaboration platform through its website or app.
