SAN DIEGO, Aug. 18, 2024 (GLOBE NEWSWIRE) — Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Sprinklr, Inc. (NYSE: CXM) securities between March 29, 2023 and June 5, 2024, both dates inclusive (the “Class Period”), have until October 15, 2024 to seek appointment as lead plaintiff of the Sprinklr class action lawsuit. Captioned Boshart v. Sprinklr, Inc., No. 24-cv-06132 (S.D.N.Y.), the Sprinklr class action lawsuit charges Sprinklr and certain of Sprinklr’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Sprinklr class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-sprinklr-inc-class-action-lawsuit-cxm.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Sprinklr class action lawsuit must be filed with the court no later than October 15, 2024.
CASE ALLEGATIONS: Sprinklr provides enterprise cloud software products worldwide.
The Sprinklr class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose facts concerning Sprinklr’s difficulties in the implementation of scaling in the Contact Center as a Service market and the resulting growth slowdown on Sprinklr’s existing “go-to-market” initiatives associated with Sprinklr’s core suite of products.
The Sprinklr class action lawsuit further alleges that on December 6, 2023, Sprinklr announced a sequential decrease in the total number of customers spending more than $1 million, attributing it to macroeconomic conditions. Sprinklr additionally reduced the outlook for fiscal 2025 from consensus expectations of 16% growth down to 10%, according to the complaint. On this news, the price of Sprinklr stock fell more than 33%, according to the Sprinklr class action lawsuit.
Then, on June 5, 2024, the Sprinklr class action lawsuit further alleges that Sprinklr again announced significantly reduced growth expectations, cutting fiscal year 2025 projections another three percent, down to 7% annual growth, again attributing the losses to reduced customer retention in Sprinklr’s core business and macro headwinds. On this news, the price of Sprinklr stock fell more than 15%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Sprinklr securities during the Class Period to seek appointment as lead plaintiff in the Sprinklr class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Sprinklr class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Sprinklr class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Sprinklr class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Contact:
Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
info@rgrdlaw.com
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