PR Newswire
NEW YORK, Aug. 26, 2024
NEW YORK, Aug. 26, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Sprinklr, Inc. ("Sprinklr" or the "Company") (NYSE: CXM). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Sprinklr and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until October 14, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Sprinklr securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On December 6, 2023, Sprinklr issued a press release announcing its financial results for its fiscal third quarter. On a related earnings call that same day, Sprinklr announced a sequential decrease in the total number of customers spending more than $1 million, which the Company attributed to macroeconomic conditions. Sprinklr also lowered its guidance for fiscal year 2025.
On this news, Sprinklr's stock price fell $5.59 per share, or 33.47%, to close at $11.11 per share on December 7, 2023.
Then, on June 5, 2024, Sprinklr issued a press release "report[ing] financial results for its first fiscal quarter ended April 30, 2024." Among other items, Sprinklr provided full-year revenue guidance below expectations and second-quarter revenue guidance that fell short of consensus estimates. Sprinklr cited a soft demand environment with longer sales cycles and heightened budgetary scrutiny, and advised investors that it observed higher churn in its core product suites due to reduced marketing spend, elimination of programs, and seat reductions.
On this news, Sprinklr's stock price fell $1.64 per share, or 15.13%, to close at $9.20 per share on June 6, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
