DOCS Shareholder Alert: Doximity, Inc. Securities Class Action Lawsuit - Investors Should Contact SueWallSt

Doximity co-founder and former Chief Strategy Officer Nate Gross is named as a defendant in a securities class action alleging the Company assured investors it could "gain share" while older advertising formats were allegedly losing ground to programmatic and social competitors

NEW YORK, Sept. 29, 2026 (GLOBE NEWSWIRE) -- SueWallSt notifies 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, and that co-founder Nate Gross is among the individual defendants named in the action. Find out if you could qualify to recover your per-share losses. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

DOCS shareholders absorbed three separate declines: $8.29 per share (13%) on November 7, 2025; $5.59 per share (17%) on February 6, 2026; and $5.38 per share (23%) on May 14, 2026, when the stock closed at $18.01, down from $23.39. The lead plaintiff deadline is November 16, 2026.

Nate Gross's Role During the Class Period

The complaint identifies Gross as Doximity's co-founder and Chief Strategy Officer from 2010 until June 13, 2025, a departure that came roughly five months before the first of the three declines. As a named individual defendant, he is alleged to have possessed the power and authority to control the contents of the Company's SEC reports, press releases, and presentations to analysts and institutional investors.

What Nate Gross Allegedly Oversaw

On the November 7, 2024 earnings call, an analyst asked how the Company felt about "external factors of competition." As named in the action, Gross responded: "We feel good about our ability to gain share and our competitive positioning . . . our ability to have really high-quality product, reach, authentic engagement and doctor centricity to these commercial programs remains key." The lawsuit contends that assurance was materially misleading because Doximity was allegedly ceding market share to rivals with more favorable pricing and engagement models, while relying on the "light engagement" formats its own marketing materials disclaimed with the statement that "you won't find any banner ads on Doximity."

Nate Gross's Alleged Role

• Served as co-founder and Chief Strategy Officer
• Fielded the direct analyst question on competition during the November 7, 2024 call
• Allegedly endorsed the Company's claimed ability to "gain share" while competitors using programmatic and social formats were gaining share instead
• Is alleged to have had access to internal data and reports contradicting the public competitive narrative
• Is named under Section 20(a) as an alleged controlling person alongside the Company's CEO and former CFO
• Departed on June 13, 2025, before the Company lowered and then missed fiscal 2026 revenue guidance

"Officers who speak directly to analysts about competitive position take on responsibility for the accuracy of what they say. The allegation here is that investors were told the Company was gaining share at a time when it was allegedly losing it." -- Joseph E. Levi, Esq.

Section 20(a) Context for Nate Gross

Count II of the action asserts Section 20(a) claims against the individual defendants. In practical terms, that means investors are seeking recovery not only from Doximity but from the executives alleged to have controlled its public statements.

Submit your information here 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: How much did DOCS stock drop? A: The complaint alleges a connection between three drops: shares fell approximately 13%, or $8.29 per share, on November 7, 2025; a further roughly 17% decline, $5.59 per share, on February 6, 2026; and a third drop of about 23%, or $5.38 per share, on May 14, 2026. Investors who purchased shares during the Class Period at artificially inflated prices and suffered losses may be eligible to seek compensation.

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 specific misstatements does the DOCS lawsuit allege? A: The complaint alleges Doximity made materially false or misleading statements regarding the impact of its "Newsfeed" product on revenue growth and its competitive position, including claims that it was gaining market share and did not use banner ads or an e-newsletter product. When the decelerating sales growth and competitive losses were disclosed, the stock price declined sharply.

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.