Investigation announced for Investors in Domo, Inc. (NASDAQ: DOMO) over potential Wrongdoing

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Domo, Inc.

Investors who purchased shares of Domo, Inc. (NASDAQ: DOMO) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Domo, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

American Fork, UT based Domo, Inc., together with its subsidiaries, operates a cloud-based business intelligence platform in North America, Western Europe, Canada, Australia, and Japan. Domo, Inc. reported that its Total Revenue increased from $308.64 million for the 12 months period that ended on January 31, 2023, to $318.98 million for the 12 months period that ended on January 31, 2024, and that its Net Loss over those respective time periods declined from $105.55 million to $75.56 million.

On August 24, 2023, Domo, Inc. announced it was lowering its full year 2024 guidance and expected losses per share to range from 39 cents to 47 cents. The Company blamed it on heightened risk of non-renewals specifically as to its larger accounts. On an earnings call in May 2023, CFO David Jolley stated "we continue to believe we're in a good position to accelerate our billings over the first half outlook as we expect growth in our ramped sales capacity to accelerate." Analysts commenting on the missed guidance mention Domo's admitted mismanagement of its FY23 "ramped sales capacity."

Shares of Domo, Inc. (NASDAQ: DOMO) declined from $18.19 per share on July 31, 2023, to as low as $7.78 per share on November 01, 2023.

Those who purchased shares of Domo, Inc. (NASDAQ: DOMO) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.