Philadelphia, Pennsylvania--(Newsfile Corp. - May 6, 2026) - Grabar Law Office is investigating claims on behalf of shareholders of MongoDB, Inc. (NASDAQ: MDB). The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.

If you purchased MongoDB Inc. (NASDAQ: MDB), shares prior to June 1, 2023, and still hold shares today, you can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/mongodb-shareholder-investigation, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085.

WHY? Key allegations of a federal securities fraud class action complaint filed against MongoDB Inc. (NASDAQ: MDB) and certain of its officers have now survived a motion to dismiss.

The underlying complaint alleges that MongoDB, through certain of its offcers, made materially false and misleading statements and engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of MongoDB's common stock and operated as a fraud or deceit by materially misleading the investing public with respect to its sales initiative structure, as well as growth and revenue expectations .

On April 30, 2026, the Court determined that certain statements-primarily those about workload quality, growth, and consumption-are plausibly actionable omissions because they failed to disclose that FY2024 workloads were not consuming as expected.

Specifically, the Court determined that "Lead plaintiffs have adequately pleaded scienter with respect to the plausibly misleading statements which failed to disclose" that certain 2024 customer contracts weren't leading to typical revenues for the company.

Moreover, the Court found that CEO Dev C. Ittycheria's statement that the Company was "acquiring high-quality workloads" with its new customers, and finance executive Serge Tanjga's statement that relevant changes to the company's sales organization wouldn't affect "mechanics of the financial model for next year were actionable. The Court also determined thar is was adequately pled that Ittycheria misled investors when he said that relevant "consumption trends have been steady for several quarters now. "The investors also sufficiently pled the claim that former Chief Financial Officer Michael Lawrence Gordon misled them when he said that the relevant new customer relationships were "accretive to growth"

WHAT YOU CAN DO NOW: If you purchased MongoDB Inc. (NASDAQ: MDB), shares prior to June 1, 2023, and still hold shares today, you are encouraged to visit https://grabarlaw.com/the-latest/mongodb-shareholder-investigation, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.

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Source: Grabar Law Office