NEW YORK, Dec. 23, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Freshworks Inc. (“Freshworks” or the “Company”) (NASDAQ: FRSH) in the United States Northern District court of California on behalf of all persons and entities who purchased or otherwise acquired Freshworks securities between September 21, 2021 and November 1, 2022, both dates inclusive (the “Class Period”). Investors have until January 3, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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In September 2021, Freshworks completed its initial public offering (“IPO”), selling 28.5 million shares of common stock at $36 per share.
On February 10, 2022, Freshworks announced disappointing fourth quarter 2021 financial results, reporting flat calculated billings growth and revenue growth deceleration (of only 44% year-over-year).
On this news, the Company’s stock fell $4.05, or 18%, to close at $18.41 per share on February 11, 2022, thereby injuring investors.
Then, on May 3, 2022, after market hours, Freshworks reported its first quarter 2022 financial results, disclosing a third quarter of decelerating revenue growth and billings that missed consensus estimates and declined 13% quarter over quarter.
On this news, the Company’s stock fell $0.97, or 5.7%, over two consecutive trading days, to close at $15.99 per share on May 5, 2022, thereby injuring investors further.
If you purchased or otherwise acquired Freshworks shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
