5 THINGS YOU NEED TO KNOW ABOUT THE DIGITALOCEAN CLASS ACTION LAWSUIT

If you suffered losses in DigitalOcean stock contact DigitalOcean stock loss lawyer Timothy L. Miles about a DigitalOcean class action lawsuit

introduction to the DIGITALOCEAN CLASS ACTION LAWSUIT

The DigitalOcean class action lawsuit seeks to represent purchasers or acquirers of DigitalOcean Holdings, Inc. (NYSE: DOCN) securities between February 16, 2023 and August 25, 2023, inclusive (the “Class Period”). Captioned Agarwal v. DigitalOcean Holdings, Inc., No. 23-cv-08060 (S.D.N.Y.), the DigitalOcean class action lawsuit charges DigitalOcean and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
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If you suffered losses in DigitalOcean stock and wish to serve as lead plaintiff in the DigitalOcean class action lawsuit, please ​contact DigitalOcean Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the DigitalOcean class action lawsuit must be filed with the court no later than November 13, 2023.

Read on to learn five things you need to know about the DigitalOcean class action lawsuit.

the ALLEGATIONS IN THE DIGITALOCEAN CLASS ACTION LAWSUIT

​The DigitalOcean class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that defendants lacked the skills and experience to assess complicated tax matters and therefore did not design or maintain effective controls over DigitalOcean’s accounting for income taxes.

The DigitalOcean class action lawsuit further alleges that on August 3, 2023, DigitalOcean announced that it had “identified certain errors within the unaudited condensed financial statements for the quarter ended March 31, 2023 as included in our Quarterly Report on Form 10-Q for the three months ended March 31, 2023 filed on May 9, 2023” related to DigitalOcean’s accounting for income tax expense, resulting in an overstatement of income tax expense in the quarter of approximately $18 million.  The DigitalOcean lawsuit alleges that on this news, the price of DigitalOcean stock fell nearly 25%.

​The DigitalOcean class action lawsuit further alleges that on August 24, 2023, DigitalOcean announced that DigitalOcean’s Board of Directors had begun a search for a new CEO to replace defendant Yancey Spruill who would step down as CEO and board member as soon as his successor was appointed.  The DigitalOcean class action lawsuit alleges that on this news, the price of DigitalOcean stock fell more than 8%.

THE LEAD PLAINTIFF PROCESS IN THE DIGITALOCEAN CLASS ACTION LAWSUIT

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in DigitalOcean stock to seek appointment as lead plaintiff in the DigitalOcean class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. 
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​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in DigitalOcean stock and have further questions, contact DigitalOcean stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a DigitalOcean class action lawsuit if you suffered losses in DigitalOcean​ stock.

THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE DIGITALOCEAN CLASS ACTION LAWSUIT

Serving as a Lead Plaintiff in the DigitalOcean class action lawsuit has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred it the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against DigitalOcean if you suffered losses in DigitalOcean stock. ​

SHARES purchased OUTSIDE OF THE CLASS PERIOD IN THE DIGITALOCEAN CLASS ACTION LAWSUIT

​Even if you suffered losses in DigitalOcean stock, if you purchased or sold securities outside of the Class period, you will not be able to participate in the DigitalOcean class action lawsuit.

HOW A DIGITALOCEAN STOCK LOSS LAWYER can HELP you IF you SUFFERED LOSSES IN DIGITALOCEAN STOCK

​​​​​A DigitalOcean stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional. While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct.  Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.

Call a DigitalOcean stock loss Lawyer today if you suffered losses in DigitalOcean stock about the DigitalOcean class action lawsuit who will fight to recover your suffered losses in DigitalOcean stock by making sure all the proper steps are taken to protect your interests in a DigitalOcean class action lawsuit.

CONTACT A DIGITALOCEAN STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN DIGITALOCEAN STOCK ABOUT A DIGITALOCEAN CLASS ACTION LAWSUIT

​If you suffered losses in DigitalOcean stock, contact DigitalOcean stock loss lawyer Timothy L. Miles today for a free case evaluation about a DigitalOcean class action lawsuit. Call today and see what a DigitalOcean stock loss lawyer can do for you if you suffered losses in DigitalOcean stock.

DigitalOcean stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,  shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action:  Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
​Email: [email protected]