Rosen Law Firm, a global investor rights law firm, reminds investors that a shareholder filed a class action on behalf of purchasers and acquirers of securities of Sprinklr, Inc. (NYSE: CXM) between March 29, 2023 and June 5, 2024, both dates inclusive (the “Class Period”). According to the lawsuit, Sprinklr is a software company that provides AI-based “Customer Experience Management” platforms for its client’s customer-facing teams.
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The Allegations: Rosen Law Firm is Investigating the Allegations that Sprinklr, Inc. (NYSE: CXM) Misled Investors Regarding its Business Operations.
According to the lawsuit, statements made throughout the Class Period were false and/or materially misleading because defendants created the false impression that they possessed reliable information pertaining to Sprinklr’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, Sprinklr had significantly shifted its focus away from proven growth areas to focus aggressively on scaling a new business venture with Contact Center as a Service (“CCaaS”), resulting in artificially inflated short-term growth. Defendants misled investors by continually providing projections which failed to account for the difficulties in the implementation of scaling their new product and/or otherwise failed to adequately disclose the fact that Sprinklr at the current time did not have adequate forecasting processes. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Sprinklr, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by October 15, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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