LOS ANGELES, Nov. 22, 2023 /PRNewswire/ -- The Law Offices of Frank R. Cruz continues its investigation of E2open Parent Holdings, Inc. ("E2open" or the "Company") (NYSE: ETWO) on behalf of investors concerning the Company's possible violations of federal securities laws.
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On October 10, 2023, after the market closed, E2open announced its fiscal 2024 second quarter financial results. The Company reported second quarter earnings of four cents per share, falling short of the analyst consensus estimate of five cents, and a 20% decrease compared to earnings of five cents per share in the same period last year. The Company also cut its fiscal year 2024 projected revenue from $655M-$670M to $625M-$635M, a decrease of $30M-$35M.
The same day, the Company announced the departure of Michael A. Farlekas who had been serving as the Company's Chief Executive Officer.
On this news, E2open's stock price fell $2.20, or 50.1%, to close at $2.19 per share on October 11, 2023, thereby injuring investors.
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If you purchased E2open securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
