Doximity settles securities lawsuit for $31 million

Doximity Inc. (NYSE: DOCS) reached a $31 million settlement agreement on December 24 to resolve a securities litigation lawsuit pending in the United States District Court for the Northern District of California.

The lawsuit, captioned In re Doximity, Inc. Securities Litigation, No. 5:24-cv-02281, named the company and certain directors and officers as defendants. The settlement amount will be fully funded by insurance proceeds, according to a company statement.

The agreement includes dismissal of all claims against the company and named individuals without any admission of liability, fault or wrongdoing. The settlement requires stockholder notice, court approval and other customary conditions before becoming final.

Doximity operates a digital platform for medical professionals. The company has not disclosed details about the underlying allegations in the securities litigation.

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