Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, April 10, 2024 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Cerence Inc. (NasdaqGS: CRNC) investors that the law firm has initiated an investigation on behalf of investors that lost money on their Cerence stock. Cerence investors are encouraged to contact the firm to discuss their legal rights.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On November 22, 2021, the Company revealed that its revenue forecasts for the first quarter and the entire 2022 fiscal year were significantly below what analysts had predicted. Then, on February 7, 2022, it reported its first-quarter results for the period ending December 31, 2021, noting that turning bookings into revenue would take more time than initially anticipated. Consequently, this led to a reduction in its revenue expectations for the 2022 fiscal year and the complete withdrawal of its forecasts for the 2024 fiscal year. Additionally, the Company announced CFO Mark Gallenberger’s retirement, set for March 11, 2022.
Following these events, the Company faced a securities class action lawsuit for not disclosing important information and for breaching federal securities laws, a case that is still in progress. Recently, the court overseeing this lawsuit rejected the Company’s request to dismiss the case, thereby allowing the litigation to proceed.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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