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DOCN Investigation Alert: Kessler Topaz Meltzer & Check, LLP is Investigating Securities Fraud Claims on Behalf of DigitalOcean Holdings, Inc. (NYSE: DOCN) Investors

RADNOR, Pa., Aug. 28, 2023 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of DigitalOcean Holdings, Inc. (NYSE: DOCN) (“DigitalOcean”).

On August 3, 2023, DigitalOcean issued a press release announcing errors with some of their previously issued financial statements. Specifically, DigitalOcean disclosed that "there were errors in our accounting for income tax expense primarily relating to the calculation of certain capitalized research or experimental expenditures under Section 174 of the Internal Revenue Code of 1986 which impacted our income tax provision ("Section 174 Error"). Primarily as a result of the Section 174 Error, accrued taxes as of March 31, 2023 were overstated and the income tax expense for the three months ended March 31, 2023 was overstated by approximately $18 million."

Following this news, DigitalOcean's stock price fell $11.57 per share, or 24.79%, to close at $35.11 on August 4, 2023.

If you are a DigitalOcean investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or e-mail at info@ktmc.com. You can also click on the following link or paste it in your browser: https://www.ktmc.com/digitalocean-holdings-inc-investigation?utm_source=PR&utm_medium=link&utm_campaign=docn&mktm=r

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com


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