NEW
YORK, Aug. 19, 2024 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders
of Sprinklr, Inc. (NYSE: CXM).
Shareholders who purchased shares of CXM during the class period
listed are encouraged to contact the firm regarding possible lead
plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/sprinklr-loss-submission-form/?id=96008&from=4
CLASS PERIOD: March 29,
2023 to June 5, 2024
ALLEGATIONS: According to the complaint, 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 Contact Center as a Service ("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. Following this news,
Sprinklr's stock price fell by $5.59
per share, or approximately 34% to close at $11.11 per share. On June 5, 2024, Sprinklr again announced
significantly reduced growth expectations, this time cutting fiscal
year 2025 projections another three percent, down to a mere 7%
annual growth, again attributing the losses to reduced customer
retention in Sprinklr's core business and macro headwinds. The
price of Sprinklr's common stock declined dramatically. From a
closing market price of $10.84 per
share on June 5, 2024 Sprinklr's
stock price fell to $9.20 per share
on June 6, 2024, a decline of more
than 15% in the span of one day.
DEADLINE: October 15, 2024
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/sprinklr-loss-submission-form/?id=96008&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of CXM during the timeframe listed
above, you will be enrolled in a portfolio monitoring software to
provide you with status updates throughout the lifecycle of the
case. The deadline to seek to be a lead plaintiff is October 15, 2024. There is no cost or obligation
to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm