The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Since Dropbox's IPO, the Company's share price has declined from its IPO price of $21.00 by approximately 16%.

Similarly, the Company's revenue growth rate had dramatically decelerated to only 18% for 2019, a sharp decline from the 40% and 31% annual growth rates highlighted in the Registration Statement. The Company had only converted an additional 2.6 million paid users in the year-and-a-half since the IPO, representing an annualized post-IPO growth rate of only 15% and less than 1% of the '300 million' figure provided in the Registration Statement. In connection with its second quarter 2019 earnings report, Dropbox still claimed to have 'more than 500 million registered users' as of June 2019, indicating that the Company had experienced essentially no significant registered user growth since Decemmonths prior to the IPO. It claimed that 300 million of the Company's 500 million registered users had unique characteristics making them likely to be monetized over time, purportedly presenting a 'significant opportunity to increase revenues.' The Registration Statement also described Dropbox's business model as involving the 'ncrease conversion of registered users to paid subscription plans.' It highlighted the Company's increase of paid users from 6.5 million users in 2015 to 11 million users by 2017, representing 69% growth over two years. Specifically, the Registration Statement claimed that a significant proportion of the Company's registered user base was primed for monetization. The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that the Registration Statement contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing its preparation.

District Court for the Northern District of California on behalf of all those who purchased Dropbox Class A shares of common stock pursuant and/or traceable to the Company's MaIPO.

Dropbox inc new york address