Lawsuit alleges Doximity, Inc. made misleading statements to investors from August 8, 2024 to May 13, 2026; lead plaintiff motions are due November 16, 2026

LOS ANGELES, Oct. 27, 2026 /PRNewswire/ -- The Law Offices of Frank R. Cruz today announced a class action lawsuit against Doximity, Inc. ("Doximity" or the "Company") (NYSE: DOCS) on behalf of investors who acquired the Company's securities from August 8, 2024 to May 13, 2026. Filed on September 16, 2026, the case is Michigan Laborers' Pension Fund v. Doximity Inc., et al., U.S. District Court for the Northern District of California, Case No. 3:26-cv-10529.

If you lost money on Doximity, Inc. securities, submit your Doximity, Inc. loss information by November 16, 2026 to learn about participating in the lawsuit.

Doximity, Inc. class action timeline

• Class period begins: August 8, 2024
• Class period ends: May 13, 2026
• Complaint filed: September 16, 2026
• Lead plaintiff motion deadline: November 16, 2026

What happened?

On November 6, 2025, Doximity announced financial results for the second quarter of 2026, in which the Company expressed a degree of caution regarding the outlook for ad spending and implied a slowdown in sales growth in the second half of the 2026 fiscal year, which ended on March 31, 2026.

On this news, Doximity stock fell $8.29 or 13.25%, to close at $54.29 per share on November 7, 2025, thereby injuring investors.

Then, on February 5, 2026, Doximity announced financial results for the third quarter of 2026, in which the Company lowered its revenue guidance for 2026 full fiscal year and announced that its sales growth had decelerated while its net income had contracted, which will negatively impact its 2026 fiscal fourth quarter.

On this news, Doximity stock fell $5.59 or 16.78%, to close at $27.73 per share on February 6, 2026, thereby further injuring investors.

Finally, on May 13, 2026, Doximity announced financial results for the fourth quarter and full year 2026, in which the Company revealed it missed its already-reduced revenue guidance, as well as projected a significantly slower pace of growth for its 2027 fiscal year, which ends on March 31, 2027.

On this news, Doximity stock fell $5.38 or 23%, to close at $18.01 on May 14, 2026, thereby further injuring investors.

What is the Doximity, Inc. lawsuit about?

The Doximity, Inc. securities lawsuit alleges that, between August 8, 2024 and May 13, 2026, defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Doximity, Inc.'s business, operations, and prospects. Specifically, the complaint alleges defendants failed to disclose that: (1) Doximity overstated the impact that its Newsfeed had on its revenue growth; (2) the Company was losing market share to its competitors with more favorable pricing and engagement models; (3) the Company was using banner ads and e-newsletters instead of deep engagement tactics; and (4) as a result, defendants' positive statements about Doximity, Inc.'s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

"According to the complaint filed against Doximity, Inc., the Company, among other things, did not disclose that Doximity overstated the impact that its Newsfeed had on its revenue growth. The November 16, 2026 deadline is a key date for Doximity, Inc. investors who want a voice in how this case moves forward," said Frank R. Cruz of The Law Offices of Frank R. Cruz.

What should Doximity, Inc. investors do now?

The Law Offices of Frank R. Cruz can help Doximity, Inc. investors evaluate potential claims to recover their losses.

Investors who want to serve as lead plaintiff in the Doximity, Inc. class action must file a motion with the Court by November 16, 2026. For more information, visit the Doximity, Inc. case page, email info@frankcruzlaw.com, or call 310-914-5007.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

Investors may retain counsel of their choice. Doximity, Inc. investors who bought during the class period may also take no action and remain absent class members. No class has been certified yet in the Doximity, Inc. case.

Questions and answers about the Doximity, Inc. lawsuit

Who is eligible? Investors who bought Doximity, Inc. securities between August 8, 2024 and May 13, 2026 and lost money may be class members, and may seek lead plaintiff appointment by November 16, 2026.

What does a lead plaintiff do? The lead plaintiff is appointed by the court to represent all class members and direct the Doximity, Inc. class action.

Must I be lead plaintiff to share in a recovery? No, Doximity, Inc. investors can take no action and remain absent class members.

How are attorneys' fees handled? The Law Offices of Frank R. Cruz works on contingency, so Doximity, Inc. investors pay no attorneys' fees up front. Any attorneys' fees and litigation expenses come only from a recovery, if there is one, and require court approval.

About The Law Offices of Frank R. Cruz

The Law Offices of Frank R. Cruz investigates and prosecutes securities fraud and corporate malfeasance class actions. With nearly 20 years of litigation experience, the firm focuses on complex securities class actions and gives each client personal, one-on-one attention throughout the legal process.

Prior results do not guarantee a similar outcome.

Related links

• Doximity, Inc. case page, The Law Offices of Frank R. Cruz
• Complaint: Michigan Laborers' Pension Fund v. Doximity Inc., et al., U.S. District Court for the Northern District of California
• press release
• Doximity, Inc. SEC filings index, EDGAR
• The Law Offices of Frank R. Cruz

Follow The Law Offices of Frank R. Cruz for updates on Twitter: twitter.com/FRC_LAW

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles