Sprinklr, Inc. (CXM) Shareholders Have Until October 15, 2024 to Join Class Action Lawsuit

NEW YORK, Oct. 14, 2024 — The Gross Law Firm is notifying shareholders of Sprinklr, Inc. (NYSE: CXM).

The Gross Law Firm (PRNewsfoto/The Gross Law Firm)

Shareholders who bought CXM shares during the specified period are encouraged to contact the firm regarding potential lead plaintiff appointment. Being a lead plaintiff isn’t mandatory to receive compensation.

CONTACT US HERE:

CLASS PERIOD: March 29, 2023 to June 5, 2024

ALLEGATIONS: The complaint alleges that on December 6, 2023, Sprinklr announced strong 3Q 2024 results but then lowered its projected growth for the 4Q and full year 2025. The Company attributed this to “subscription renewal pressures” caused by macro headwinds and “over-rotation” of sales to its Contact Center as a Service (“CCaaS”) market. During an earnings call in September 2023, CEO Ragy Thomas stated that the Company’s investments in AI and the CCaaS opportunity were key contributors to its customer growth. Subsequently, in March, several changes were made to the Company’s C-level positions. Analysts commenting on the lowered estimates expressed surprise at the timing and shift in the Company’s sales strategy. After this news, Sprinklr’s stock price dropped by $5.59 per share, or about 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 just 7% annual growth. They again attributed 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 decrease of more than 15% in one day.

DEADLINE: October 15, 2024 Shareholders shouldn’t delay in registering for this class action. Register your information here:

NEXT STEPS FOR SHAREHOLDERS: After registering as a shareholder who bought CXM shares during the timeframe listed above, you’ll be enrolled in portfolio monitoring software to receive updates throughout the case. The deadline to apply for lead plaintiff status is October 15, 2024. Participating in this case doesn’t cost you anything and you have no obligation to do so.

WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm. Our goal is to protect the rights of all investors who have suffered due to deception, fraud, and unlawful business practices. The Gross Law Firm is committed to ensuring companies adhere to responsible business practices and good corporate citizenship. The firm seeks recovery on behalf of investors who experienced losses when false and/or misleading statements, or the omission of essential information by a company, artificially inflated the company’s stock. Attorney advertising. Past results don’t guarantee similar outcomes.

CONTACT:
The Gross Law Firm
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New York, NY, 10018
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Phone: (646) 453-8903

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