Notice to pension funds, asset managers, and fiduciaries: the pleading asserts that Doximity overstated how much its “Newsfeed” product drove revenue growth and misstated its competitive position, while DOCS holders absorbed three separate declines of 13%, 17%, and 23%.

NEW YORK, Oct. 1, 2026 /PRNewswire/ — SueWallSt notifies institutional investors in Doximity, Inc. (NYSE: DOCS) that a class action lawsuit has been filed on behalf of shareholders who purchased securities between August 8, 2024 and May 13, 2026. Find out if you qualify to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

DOCS shares declined 13% on November 7, 2025, then 17% on February 6, 2026, then 23% into May 14, 2026, a final single-session loss of $5.38 per share. A fund holding 500,000 shares through the last event alone absorbed roughly $2.69 million in value. To be considered for lead plaintiff, investors must file by November 16, 2026.

Notice to Institutional Holders

Funds, advisers, and plan trustees that accumulated DOCS during the Class Period may hold among the largest documented losses in this matter. The pleading asserts that Doximity overstated the contribution its “Newsfeed” advertising product made to revenue growth while relying on “light engagement” formats, including banner ads and email newsletters, that the Company publicly disclaimed. The complaint charges that Doximity represented it was gaining market share at a time when older advertising formats were allegedly losing ground to programmatic and social competitors.

Portfolio Impact Assessment

Three repricings inside roughly six months compounded the alleged harm for institutions that added to positions across fiscal 2026. As averred, each event narrowed the gap between what the Company told the market about record engagement and what it ultimately reported, including reduced guidance and decelerating sales growth. Losses spread across multiple tranches, custodians, and separately managed accounts often require trade-level reconstruction to size accurately.

“Institutional investors play a critical role in securities class actions, and their loss records are frequently the clearest documentation of alleged harm. Funds that held Doximity across the November 2025, February 2026, and May 2026 disclosure events may have claims worth reviewing.” — Joseph E. Levi, Esq.

Fiduciary Obligations and Recovery Options

• Investment policy statements at many public plans and ERISA-governed funds call for periodic review of securities litigation claims affecting plan assets.
• Monitoring duties generally include identifying eligible claims, documenting purchase and sale activity, and deciding whether to seek an active litigation role.
• Serving as lead plaintiff provides direct oversight of counsel, case strategy, and settlement terms, without increasing the institution’s own share of any recovery.
• Courts typically appoint the movant with the largest provable financial interest that can adequately represent absent class members.
• Passive class members need not act now to remain eligible for any future distribution, but they cede control over how the action is conducted.

Learn more about the case and your options or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the DOCS Lawsuit

Q: When did Doximity allegedly mislead investors? A: The Class Period runs from August 8, 2024 to May 13, 2026. The complaint alleges that multiple corrective disclosures events revealed information that caused significant stock declines.

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 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 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 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.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@SueWallSt.com

Tel: (888) SueWallSt

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

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SOURCE SueWallSt.com