Philadelphia, Pennsylvania--(Newsfile Corp. - November 16, 2024) - Grabar Law Office is investigating whether officers and directors of Sprout Social, Inc. (NASDAQ: SPT) breached their fiduciary duties owed to the company.
If you have held Sprout Social shares since prior to November 3, 2021, and would like to learn more about the investigation, your rights, and potential for recovery, please visit https://grabarlaw.com/the-latest/Sprout-Shareholder-Investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085.
WHY: A recently filed securities fraud class action Complaint alleges that Sprout, Inc., via certain of its officers and directors, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects including failing to disclose to investors: (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.
WHAT YOU CAN DO NOW: Current Sprout Social shareholders who have held Sprout Social shares since on or before November 3, 2021, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them whatsoever.
If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/Sprout-Shareholder-Investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com or call us at 267-507-6085.
#SproutSocial #ShareholderRights $SPT
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