NEW YORK, May 17, 2024 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Sprout Social, Inc. (“Sprout Social” or the “Company”) (NASDAQ: SPT) for violations of the federal securities laws on behalf of investors who purchased or acquired Sprout Social common stock between November 2, 2023 and May 2, 2024, inclusive (the “Class Period”).
On May 13, 2024, a complaint was filed against the Company and certain of its current officers alleging that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s sales and revenue growth were not indicative of the Company’s growth as it transitioned to an enterprise sales cycle; (2) that the Company faced integration challenges with its acquisition of Tagger; (3) as a result, the Company was “self inducing sales headwinds;” (4) as a result, the Company would revise fiscal year 2024 revenue guidance; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
When investors learned the truth, Sprout Social’s common stock declined precipitously, injuring investors.
If you suffered a loss of more than $50,000 in Sprout Social’s securities, and wish to participate, or learn more, please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).
Any investor who wishes to serve as Lead Plaintiff must act before July 12, 2024.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg P.C.
