Doximity’s CEO and former CFO are named as alleged controlling persons in a securities class action claiming the Company overstated how much its “Newsfeed” product drove revenue growth while allegedly losing market share to competitors
NEW YORK, Sept. 28, 2026 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP alerts investors in Doximity, Inc. (NYSE: DOCS) that a securities class action has been filed on behalf of shareholders who purchased common stock between August 8, 2024 and May 13, 2026. Find out if you may be eligible to recover losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
DOCS declined $5.38 per share, or 23%, closing at $18.01 on May 14, 2026, the last of three Class Period declines identified in the action. The window to apply for lead plaintiff closes on November 16, 2026.
The Named Individual Defendants
The action names Jeffrey Tangney, Doximity’s co-founder, Chief Executive Officer, and Chairman of the Board at all relevant times, and Anna Bryson, who served as Chief Financial Officer from May 11, 2021 to April 13, 2026. The complaint identifies these two officers as the executives most principally charged with providing investors an accurate representation of the state of the Company’s business, including its financial guidance, and alleges they had unfettered access to internal data and reports, including an internal dashboard.
Sarbanes-Oxley Certification Obligations
Senior officers who sign certifications under Sections 302 and 906 of the Sarbanes-Oxley Act personally attest to the accuracy and completeness of the periodic reports they submit. The practical consequence for shareholders is that accountability under Section 20(a) of the Securities Exchange Act of 1934 can reach individuals, not only the issuer.
Alleged Control Person Liability
- Both officers are named under Section 20(a) as alleged controlling persons of Doximity.
- The pleading alleges they possessed the power and authority to control the contents of the Company’s SEC reports, press releases, and presentations to securities analysts and institutional investors.
- It alleges each received copies of the reports at issue before or shortly after issuance, with the ability and opportunity to prevent their issuance or have them corrected.
- The action alleges the Chief Executive Officer expressly denied the existence of an e-newsletter product when questioned by an analyst, while the Company allegedly relied on email newsletters and banner ads.
- Section 20(a) liability is derivative: if the underlying Rule 10b-5 claim succeeds, alleged controlling persons may be held jointly and severally liable.
“Corporate officers have a duty to ensure their companies’ public statements are accurate and complete, and the complaint here alleges that senior Doximity executives had access to internal data that contradicted what shareholders were being told about the Newsfeed and the Company’s competitive position.” — Joseph E. Levi, Esq.
Submit your information to learn more or call (212) 363-7500.
Levi & Korsinsky, LLP is a nationally recognized shareholder rights firm. Over the past 20 years, the firm has secured hundreds of millions of dollars for aggrieved shareholders. Ranked in ISS Top 50 for seven consecutive years.
Frequently Asked Questions About the DOCS Lawsuit
Q: What court was the DOCS class action filed in? A: The case was filed in the United States District Court for the Northern District of California, governed by the Private Securities Litigation Reform Act of 1995.
Q: Who are the defendants named in the DOCS lawsuit? A: The complaint names Doximity, Inc. and a set of individual defendants who held senior positions at the company for all or part of the Class Period, including co-founder, CEO, and Chairman Jeffrey Tangney, CFO Anna Bryson, co-founder and Chief Strategy Officer Nate Gross, and VP of Investor Relations & Revenue Operations, Perry Gold.
Q: What is the DOCS class action lawsuit about? A: A securities class action has been filed against Doximity, Inc. (NYSE: DOCS) alleging materially false and misleading statements between August 8, 2024 and May 13, 2026. Shares fell approximately 23% after the Company disclosed that it missed its already-reduced fiscal 2026 revenue guidance and projected significantly slower growth for fiscal 2027. Investors who purchased shares during the Class Period and suffered losses may be eligible to seek compensation.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What do DOCS investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.
Q: What if I already sold my DOCS shares — can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.
Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.
Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, they are generally handled on a contingency basis, with any attorneys’ fees and expenses subject to court approval.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-717
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