New York, New York--(Newsfile Corp. - April 23, 2024) - Pomerantz LLP is investigating claims on behalf of investors of PowerSchool Holdings, Inc. ("PowerSchool" or the "Company") (NYSE: PWSC). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether PowerSchool and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 17, 2024, Spruce Point Capital Management ("Spruce Point") released a report on PowerSchool. Citing a "forensic review of [PowerSchool], one of the largest K-12 software providers in North America," the Spruce Point report expressed "concerns over the Company's aggressive accounting practices, unsustainable growth expectations, and sales of a product that may potentially be violating several states' child privacy laws." The Spruce Point report further alleged that "[PowerSchool's] Board may be conflicted and as a result, may not be serving all shareholders equally."
On this news, PowerSchool's stock price fell $1.94 per share, or 9.83%, to close at $17.79 per share on April 17, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206531
