Doximity Inc. will pay $31 million to end a lawsuit claiming the medical professionals networking company misled investors about how many active users it had on its platform.
Lead plaintiff New York City District Council of Carpenters Pension Fund filed a motion Monday seeking preliminary approval of the deal in the US District Court for the Northern District of California.
The settlement amount will go to potentially thousands of investors who acquired Doximity stock between June 2021 and August 2023. The total amount will be distributed on a pro rata basis, with an estimated average recovery of $0.32 per share. ...
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