NEW YORK, July 15, 2024 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Sprinklr, Inc. (NYSE: CXM) and NWTN Inc. (NASDAQ: NWTN). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Sprinklr, Inc. (NYSE: CXM)
On December 6, 2023, Sprinklr announced strong 3Q 2024 results and then reduced its estimated growth for the 4Q and full year 2025. The Company blamed it on “subscription renewal pressures” caused by macro headwinds and the “over-rotation” of sales to its CCaaS market. On an earnings call in September 2023, CEO Ragy Thomas stated that the Company’s investments in AI and the CCaaS opportunity were main contributors to its customer growth. Subsequently, in March several changes were made to the Company’s C-level positions. Analysts commenting on the reduced estimates mention surprise at the timing and shift in the Company’s sales strategy.
On this news, Sprinklr’s stock price fell by $5.59 per share, or approximately 34% to close at $11.11 per share.
For more information on the Sprinklr investigation go to: https://bespc.com/cases/CXM
NWTN Inc. (NASDAQ: NWTN)
On May 24, 2024, NWTN issued a press release “announc[ing] that it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet filed its Annual Report on Form 20-F for the period ended December 31, 2023 (the ‘Form 20-F’) with the Securities and Exchange Commission (the ‘SEC’)” and that “the Company has 60 calendar days, or no later than July 22, 2024, to submit a plan to regain compliance.”
On this news, NWTN’s stock price fell $0.58 per share, or 14.43%, to close at $3.44 per share on May 28, 2024.
For more information on the NWTN investigation go to: https://bespc.com/cases/NWTN
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
