Mon, 08 Aug 2022

NEW YORK, NY / ACCESSWIRE / August 2, 2022 / Headquartered in Boston Massachusetts, Duck Creek Technologies, Inc. ('Duck Creek Technologies,' or the 'Company') is a Software-as-a-service (SaaS) company that develops industry-specific software that helps insurance carriers to deploy and manage their products and services. Specifically, the company provides core systems to the property and casualty (P&C) insurance industry through its cloud offering, Duck Creek OnDemand. The Company was founded in Boston, Massachusetts in 2000 and became a Delaware corporation in November 2019. On August 14, 2020, the Company went through its initial public offering at a public offering price of $27.00 per share for net proceeds of $429.2 million. As of today, the price of the Company's common share is at $13.99, only about half of the public offering price.

Lowey Dannenberg, Tuesday, August 2, 2022, Press release picture

On June 30, 2022, the Company reported its quarterly report on Form 10-Q with the SEC, reporting its financial results for the quarter ended May 31, 2022 (the 'Quarterly Report'). The Quarterly Report reported that the adjusted income from operates dropped from $4.8 million a year ago to $1.8 million; the adjusted earnings per share dropped from $0.03 in the third quarter of 2021 to $0.01; the adjusted EBITDA dropped to $2.41 million, a 56.5% decline compared to a year ago. On this news, the Company's shares fell nearly 3.3% to $14.36 the next day.

If you suffered loss in Duck Creek Technologies and wish to participate, learn more, or discuss the issues surrounding the investigation, please click here, or contact our attorneys at (914) 733-7256 or via email at investigations@lowey.com.

Contact

Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256
Email: investigations@lowey.com

SOURCE: Lowey Dannenberg



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