DocuSign Inc.’s directors and top executives failed to publicly attribute accelerated growth and high demand to Covid-19 pandemic restrictions for more than two years before the stock’s biggest selloff on record, a shareholder derivative suit says.
The e-signature software developer’s public filings allegedly portrayed the company’s growth in 2020 and 2021 to a sustainable shift in demand for its services, concealing that demand was waning as pandemic restrictions were lifted, according to the complaint filed Tuesday in US District Court for the Northern District of California.
DocuSign also didn’t disclose that competition from Adobe Inc. and difficulties selling its ...
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