We are investigating Box, Inc. (BOX) (“Box” or the “Company”) for potential violations of the federal securities laws.
On February 27, 2019, Box reported fourth quarter revenue that fell below investor expectations, citing longer sales cycles for seven-figure deals. On this news, Box’s stock price fell $4.64 per share, or 18.65%, to close at $20.24 per share on February 28, 2019. Then, on June 3, 2019, post-market, Box lowered its fiscal year 2020 revenue outlook to a range of $688 million to $692 million, down from previous guidance of $700 million to $704 million, again citing longer sales cycles for the Company’s larger deals. On this news, Box’s stock price fell $0.75 per share, or 4.18%, to close at $17.18 per share on June 4, 2019.